U.S. economy generates 227,000 jobs in February (by Jeffry Bartash)

WASHINGTON (MarketWatch) - The U.S. economy added 227,000 jobs in February while hiring in January and December was revised up by a combined 61,000, the Labor Department reported Friday. The unemployment rate remained at 8.3%, largely because more people entered the workforce in search of jobs. Economists surveyed by MarketWatch had forecast the U.S. would add 213,000 jobs last month, with the jobless rate holding steady at 8.3%. Subtracting another decline in government jobs, the private sector boosted payrolls by 233,000. Average hourly earnings rose by 3 cents, or 0.1%, to $23.31 and hours worked was flat at 34.5. Job gains for January were revised up to 284,000 from 243,000 - the biggest monthly increase since the recession ended - and December's employment gains were revised up to 223,000 from 203,000. The past three months of full-time job growth is the fastest since early 2006.