(Bloomberg) -- Welcome to Monday, Europe. Here’s the latest news and analysis from Bloomberg Economics to help you start the week:

• The U.K. has record-high employment and the lowest jobless rate since the 1970s. But the labor market is more vulnerable than those headline numbers suggest
• Bank of England Governor Andrew Bailey rejected the idea of using monetary financing to help contain the economic impact of coronavirus, and said the bank’s current policies stop short of such action
• Prime Minister Shinzo Abe’s government will deploy a two-phase stimulus package to help workers and businesses in Japan survive the impact of the coronavirus pandemic
• Economists agree Canada’s labor market suffered major damage in March, but the range of forecasts varies wildly
• The sinking global economy is suffering through a colossal disinflationary shock that could briefly push it into dangerous deflation territory for the first time in decades
• Australia’s policy makers face a new challenge as they pump stimulus into a faltering economy: the Saudi Arabia-Russia clash that’s sent oil prices plummeting and belted the third-largest export Down Under
• Bloomberg Economics says the People’s Bank of China’s latest easing opens the way for further monetary stimulus to support the economy

©2020 Bloomberg L.P.