Reverse-auctions for jobs?

Things have gotten really bad in Germany — unemployment is at its highest point since pre-WWII, and the cost to the society and nation is staggering. One particularly smart way to address this problem has been Jobdumping.de — premise: bidders bid in a race to the bottom for jobs on offer.
This is such a stark contrast to what we’re facing in Malaysia with unemployment among graduates.
Germany: No jobs, but people are willing to work for peanuts.
Malaysia: Lots of jobs, but graduates are being choosy (besides the fact that some are just simply “un-employable” due to a lack of soft skills).

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