Strong jobs report beats expectations: 237,000 jobs, unemployment 4.7%

The U.S. economy gained 235,000 new jobs and the unemployment rate fell to 4.7 percent in February, the Bureau of Labor Statistics announced Friday in a highly reassuring jobs report.

February's job gains were greater than the robust 200,000 expected by private-sector forecasters, and will provide a tailwind to President Trump in addition to nearly guaranteeing an interest rate hike at next week's Federal Reserve meeting.

At 4.7 percent, down a tenth of a percentage point, the unemployment rate is once again at a pre-recession level.

February's jobs were likely boosted by the warmest weather since 1895, which likely aided the construction industry in creating a very strong 58,000 jobs. Construction has been booming in recent months. Manufacturing also added to recent gains.

But the report clearly showed momentum in the jobs market, regardless of weather.