Greece's unemployment rate has risen again, setting a new record, according to the National Statistics Service on Thursday (January 9), despite signs of recovery in the economy.

Greek officials have said unemployment is stabilising but the latest reading showed the jobless rate rose in October from 27.7 to 27.8 percent, more than double the eurozone rate.

Greece officially took over the presidency of the European Union on Wednesday (January 8) still plagued by economic problems, while unemployment in the eurozone also remains stubborn at 12 percent and will be a key issue of its presidency.

But the government says signs of recovery are now showing. While the economy has contracted by almost 25 percent from its peak, the current account deficit has been erased, exports have picked up and growth of 0.6 percent is scheduled this year.

Austerity measures to correct Greece's economic imbalances have come at a high cost. Since late 2009 Greece has received 240 billion euros in aid from the EU and International Monetary Fund, and was at some point in danger of leaving the euro. About 1.39 million people were out of work in October compared with just 385,000 when the country's recession started six years ago.

Those aged 15 to 24 remain the hardest-hit with their jobless rate at 58 percent, up from 23 percent when the crisis started. This figure, however, excludes students and military conscripts who are not in the labour force and account for about a third of people in that age group.

Presented by Adam Justice

IMF