We’ve talked about Germany’s economic rebound: exports booming, consumer sentiment surging, and corporations thriving. Now, according to data released yesterday, the country is close to having less than 3 million unemployed — and dropping, according to Spiegel.
But near-zero unemployment may indicate and cause major problems for Germany, warns economic minister Rainer Brüderle.
On Friday, Brüderle said that in the next few years the real problem facing the German labour market would be a lack of skilled workers rather than unemployment. Speaking to the Handelsblatt business daily, he said that his priority now was to work on making Germany more attractive for skilled foreign workers. He suggested that some companies could even pay employees a “welcome premium” to move to the country.
A deplete workforce is one problem. A declining middle class is another, as German industry is outsourced to immigrant workers — creating an old-fashioned binary between rich capitalists and the poor proletariat.
These structural issues can’t be blamed on Angela Merkel.