FXstreet.com (Barcelona) - German labour market development continues showing a favourable progress, as the number of employed workers continues increasing, according to the latest estimate released by Destatis.

Unemployment has edged down in Germany to 7.6% in January from 7.8% in December, according to the provisional estimate calculated according to the concept of the International Labour Organization (ILO).

The ammount of people in employment has risen by 523,000 in January 2007, an increase of 1.3% from the previous month, which elevates the total ammount of people employed in Germany to 39.57 million. On the year, employment increased by 1.3%.

The unemployment rate, estimated eround 3.26 million people in January, has decreased by 540,000 persons on the yerar, which makes a decline of the 14.2% on the year from the 8.8% rate posted in January 2007.