Thank you, Chair.
Welcome, Governor and Deputy Governor, to the committee.
A lot of Nova Scotians, a lot of Maritimers, in fact people across Canada, work in the oil patch in Alberta and Saskatchewan. EI claims in Alberta have grown by more than 20% for the last two months in a row.
You've said that the impact of lower oil prices will be front-end loaded in terms of the negative impacts. How long do you think it will be before the labour market impact of the oil shock will hit its peak?