Both the corporate sector and overall.... In the announcements we have in our chart today, it talks about the total economy and it talks about total hours, average weekly hours. We have some charts that show where we're at vis-à-vis the peak in the fall of 2008 and where we would be relative to the trend.
Basically, when you look at hours, you get a sense that we're well below trend. We're well below that peak. We're still a good two percentage points below in terms of total hours. That means the labour input that's going in to maintain a strong economy right now is still relatively weak. What's behind that as well is that it supports our analysis to say that when we look at the private sector forecast, and we look at our estimates of potential output, we're talking about an output gap of probably, right now, even today, as of the second quarter, 2.9%, almost 3%, below potential, not closing until 2016. So when members here are thinking about what should be the appropriate policy actions in the budget, they should be thinking about an economy that's operating well below capacity now, closing very gradually.