Situation is becoming terrible for Greece with its unemployment levels climbing to a new record of 26 percent in September. Worst is the fact that Greece has topped Spain to become the highest in the euro area.

According to the released official reports, Greece's jobless rate has almost tripled since September 2009, which is being driven critical due to the ongoing global financial crisis and the severe austerity policies that have been imposed by the bailed-out country's international lenders.

Regarding the situation, the Greek Statistical Authority said that the recent data has showcased that 1.295 million people were unemployed in Greece in September, which has unfortunately pushed the jobless rate further up from the previous month's 25.3 percent and 18.9 percent that was a year earlier.

In context to same, the country's largest labor union, the GSEE has also showed deeper concerns as their predictions are pointing the jobless rate to reach 29 percent next year.

It is now the fifth continuous year of recession for the Greek economy and analysts are expecting it to shrink by almost a quarter before it starts recovering in the year 2014, said the country's central bank.

Mr. Savvas Rombolis, head of labor research at the union, told private Skai radio: 'According to our calculations, the recession next year will be between 5 and 5.5 percent ... The money being taken out of the economy due to higher (taxes) is driving the recession'.