The real question is, what do we need to do monetary policy? That's what the monetary policy report is, our key tool. So for us, what we do is we translate those shocks, such as the oil price shock, or such as the fiscal changes, into the implications for economic growth. That economic growth then is combined with our estimates of how much potential growth there is in the economy to determine what inflation will do as a result of those changes, and that then gives us the full policy discussion.
So for us, although it's interesting it's not a key factor, how many jobs are being created.
Now, the potential output thing that we talked about has a clearer labour market connection, which is that output comes from people working and the productivity that they generate. As all the adjustments in the economy work their way through, we have a convergence on the economy operating at full capacity, and the labour market operating at full capacity also, and that creates jobs of course along the way.