(Article by John Carney by Breitbart.com)
Domestic employers added a jaw-dropping 235,000 new jobs last month, while the unemployment rate ticked down to 4.7 percent, the Bureau of Labor Statistics reported Friday.
Both construction and manufacturing saw strong jobs gains.
Economists expected nonfarm payrolls to grow by 190,000, compared with 227,000 in January. Unofficially, however, expectations have been rising this week following a blowout jobs figure from ADP on Wednesday.
Wage pressure remains muted. Average hourly earnings rose 6 cents and 2.8 percent on an annualized basis. The average work week in the private sector was unchanged at 34.4 hours.
January’s employment was revised upward to 238,000 from the earlier read of 227,000.