job report

The largest increase in jobs in 1 1/2 years was accompanied by a 2.6 percent year-on-year increase in wages, a slowdown from January's pace. The unemployment rate held at 4.1 percent.

Meanwhile, the unemployment rate stayed about where it has been, dropping just a tenth of a percentage point to 4.7 percent. All in all, the report builds on strong jobs gains in January.

The unemployment rate was little changed, ticking back down to 4.9 percent. Hourly earnings rose 10 cents over last month — in total, wages are up 2.8 percent year over year.