US job losses hit record in 2008

More US workers lost jobs last year than in any year since World War II, with employers axing 2.6 million posts and 524,000 in December alone.

The US jobless rate rose to 7.2% in December, the highest in 16 years.

The official data came as plane-maker Boeing said it would cut 4,500 jobs this year at its commercial airline arm due to the global economic slowdown.

US President-elect Barack Obama said that the economic situation is dire and action is urgently needed.