Greek unemployment rate rose to 25.4 pct in August, new statistics show

Greece?s unemployment rate reached 25.4 percent in August, meaning that more than 1.2 million people were out of work, according to figures published by the Hellenic Statistical Authority (ELSTAT) on Thursday.

The unemployment rate in August 2012 was 25.4 percent, compared to 18.4 in August 2011 and 24.8 in July 2012.

The number of employed people amounted to 3,726,663. ?he number of unemployed amounted to 1,267,595 while the number of inactive people was at 3,375,297.

The number of unemployed increased by 351,666 people (a 38.4 percent rate of increase) compared with August 2011 and by 23,442 people compared with July 2012 (a 1.9 percent rate of increase).

The unemployment rate in the youngest age group, 18 to 24, reached 58 percent. The next highest was the 25 to 34 bracket, where the jobless rate reached 32.9 percent.