What we have in mind are such things as movements in inflation relative to expectations, growth of money and credit, wage pressures, evidence of supply bottlenecks and the information provided to our regional representatives from their business contacts. We will not know just how much the Canadian economy has changed until its capacity limits come under more pressure.
Jobs, of course, remain a critical issue. Improvements in labor markets boost household income prospects and enables Americans to take care of themselves and their families and to save for their future. So of course jobs are a crucial component in the transition to selfsustaining growth. We are now seeing clear signs that the process of job creation is taking hold.