The U.S. economy added 235,000 jobs in February, while the unemployment rate fell to 4.7%, according to the Labor Department—beating economists' expectations of 200,000 jobs.
The most important thing: Stock futures rose on the news, reflecting the broad strength of the report. Average hourly earnings jumped by six cents, erasing a decline last month, and pushing the year-over-year growth in wages up to 2.8%. That statistic, which matches a post-recession high, makes it all but certain the the Fed will raise interest rates next Wednesday.
