Remember how the Wall Street Journal...

...used to always claim that the highly-skilled, heavily unionized and well-compensated German workforce was actually a bad thing because it led to high structural unemployment?

This morning, Bloomberg reports, "German Unemployment Fell in March for 21st Straight Month" (my emphasis):

German unemployment fell twice as much as economists forecast in March as instability in the Middle East and the crisis in Japan failed to deter companies from hiring.

The number of people out of work fell a seasonally adjusted 55,000 to 3.01 million, the Nuremberg-based Federal Labor Agency said today. That’s the lowest level since June 1992. Economists predicted a drop of 25,000, according to the median of 31 estimates in a Bloomberg News survey. The rate declined to 7.1 percent from 7.3 percent of the workforce.