Thank you, Governor and Senior Deputy Governor, for being here today. We appreciate that.
I want to pick up on one of the things on the demographic side. In the monetary policy report on page 19, it talks about the GDP growth of around 2%. It also talks about “the growth rate of trend labour productivity being offset by a further decline in the growth of trend labour input, associated with demographic forces” which you referenced in your October 2013 report.
As you talk about this growth starting to pick up in the U.S. and other countries, with us maybe caught in the tailwind of that, do you see any impact on Canadian businesses in being able to actually hire these new workers?