I have two points. One, on the full employment side, we don't know where full employment is. We know there is always going to be transitional unemployment. Just as anecdotal evidence, when Alberta saw its unemployment rate get down to 4%, when Calgary was in the 3% to 4% range, you started to see that they were past full employment, because that's when you started to get signing bonuses for people to hire at Tim Hortons and at McDonald's. You saw exceptional labour market challenges created by remarkably low unemployment. That was hit in the 3% to 4% range.
On November 15th, 2011. See this statement in context.