U.S. added 235,000 jobs in February; unemployment rate drops to 4.7 percent

Tom Hinde

The U.S. economy added a healthy 235,000 jobs on February, according to government data released Friday morning. The unemployment rate dipped to 4.7 percent. Wages rose by 6 cents to $26.09 in February, after a 5-cent increase in January.

The good news will likely lead to an interest rate increase by the Federal Reserve next week. The U.S. economy has now grown for 94 straight months, the third-longest expansion on record. The nation has added roughly 16 million jobs since the beginning of 2010. Sectors leading the charge included construction, service and manufacturing.