Economic security

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

The U.S. economy added a healthy 235,000 jobs in February, according to government data released Friday morning, surpassing economists' expectations and likely clearing the way for the Federal Reserve to raise interest rates this month.

The unemployment rate ticked down to 4.7 percent, compared with 4.8 percent in January, and wages rose by 6 cents to $26.09 in February, after a 5-cent increase the month before.

“It’s definitely a solid report,” said Tara Sinclair, an economist at George Washington University. “This is the kind of number that the Federal Reserve was looking to receive before their meetings next week.”