And now these jobless figures this morning, of course, they do speak to the idea that the layoff story isn't yet happening. Whatever softness is going on in the market might reflect slower hiring rather than layoffs per se. But I will say it was interesting looking through the minutes at the fed yesterday, the officials, they were making clear that they felt the jobs market was in good shape. And it said publicly as well. But of course, the data since that meeting, I think has put a bit of a different look ...