Unemployment in Greece reached a new record high of 27.2% in January, up from 25.7% in December 2012 and 21.4% in December 2011.

The speed of the rise in the number of people out of work reflects the depth of the country’s recession after years of austerity – tax hikes and spending cuts – imposed under its international bailout.

The jobless rate has almost tripled since the country’s debt crisis emerged in 2009. It is also currently more than twice the Eurozone’s average unemployment reading of 12%.

Youth unemployment – among those aged between 15 and 24 – stood at 59.3% in January, up from 51% in the same month in 2012.

The Greek economy is expected to shrink 4.5% this year. However, the troika of international creditors to Greece has said that the country’s economy will start growing again in 2014 and that more funds will be released to the Greek government shortly.

Greek debt is currently 160% of the GDP and the IMF says it must be cut to 120% of GDP to be sustainable.

Greece has received €270bn in bailouts since 2010.