"We're on the expressway to full employment," crowed Rainer Brüderle, Germany's economics minister, last week. The country's labour market was evolving "from problem child to model student". He was celebrating news that German unemployment had dipped below 3 million for the first time since 1992 – or the height of the post-unification economic boom that then collapsed into a string of recessions/downturns that called into question the durability of the German economic model.
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