We have three minutes, time for about three more questions.
Before we move on—and you partly answered this question earlier to Ms. O'Connell—you said in your remarks, “The second source of uncertainty is the degree of excess capacity in the economy” and “slack remaining in the labour market”, and you used the example that “the participation rate of young workers is still below trend and average hours worked are less than we would expect.”
When we were on the road, as we have been for two or three weeks with the pre-budget consultations, we heard everywhere about the need for greater education, more skills training, matching skills to meet jobs, etc. I'm not asking you to suggest policy, but I'm asking you for your analysis. Is there a problem with skills in the labour market that you're seeing in your analysis? Is there more part-time work than there is full-time work? What analysis does the Bank of Canada have there?