Germany this week recorded a significant drop in its unemployment rate. But such figures tend to reflect recent history rather than the near future. And most experts see clouds forming on the horizon.

 An estimated 1,000 jobs are being created in Germany each day. Germany this week announced its lowest number of unemployed in 15 years. The boom in the labor market led to a drop in the number of jobless in June by 528,000 compared to the same time last year, with the total number of unemployed at 3.16 million and a jobless rate of 7.5 percent (down from 8.8 percent one year ago).

The country's Federal Labor Agency says those figures may improve even further in autumn, and German Labor Minister Olaf Scholz of the Social Democrats said Berlin is moving toward its goal of steering Germans toward full employment.

Modern economists today describe full employment as a situation in which fewer than between three and five percent of a country's working-age residents are jobless. According to the German financial daily Handelsblatt, only a dozen labor offices (out of 180 nationwide) are reporting full employment, in the relatively prosperous southern German states of Bavaria and Baden-Württemberg.