NEW YORK (CNNMoney.com) -- Yet another sobering government labor report released Friday showed the economy lost 524,000 jobs in December, bringing 2008's total job loss to 2.6 million. Last year's steep drop in employment marked the highest yearly job-loss total since 1945. Economists surveyed by Briefing.com had forecast a loss of 525,000 jobs in the month. According to the Labor Department's monthly jobs report, the unemployment rate rose to 7.2% last month from 6.7% in November and higher than economists' forecasts of 7%. The unemployment rate, which is compiled in a separate survey from the payroll number, was at its highest level since January 1993. The vast majority - 1.9 million - of last year's job losses came in the final four months of 2008, after the credit crisis began in September. November's job loss was revised up to 584,000 from 533,000, and October was revised up to 423,000. To top of page Bad news but market reacts positive?