There are risks on both sides for this recovery, absolutely. Certainly there are significant risks that come from abroad, on both sides, and risks in the United States. So there are upside and downside risks.
What we have said about the labour market, and it's very early days, is that there were some early signs of stabilization in the Canadian labour market. That said, unemployment, as everyone knows, has gone up quite sharply, and hours worked are very low. Average hours worked are very low. I hate to use an economic term, but there's a lot of slack in the labour market at present in Canada. If I may make a general point, that slack and the slack in capacity utilization and business activity means that there is quite a large output gap, which affects the ultimate pressures on inflation. It is part of the reason we have policy where it is, because it's going to take some time to use up that slack.