The Greek jobless rate hit a new record high at 20.9 percent in November up from 18.2 percent the previous month, the Greek Statistical Authority announced on Thursday.

Over one million Greeks in a 4.4 million-strong workforce are unemployed with youth under 25 being the hardest hit. The unemployment rate in this category rose to 48 percent in November up from 35.6 percent a year ago.

The announcement of the latest official figures was made a few hours after Greek Prime Minister Lucas Papademos and the parties backing his transitional government reached an in-principle deal on a new package of austerity policies that, according to critics, will fuel further recession and unemployment.

The austerity and reform measures are being passed in return for a second rescue loan from the European Union and International Monetary Fund to avert a Greek default in mid-March.

Government officials and international lenders argue that planned reductions in labor costs in the private sector will boost competitiveness, create new jobs and support efforts to overcome the debt crisis.