US economy adds 235,000 new jobs in January: Labor Department

Washington - The US economy created 235,000 net new jobs in January, far more than expected, while the unemployment rate fell further, the Labor Department reported Friday.

In another sign of a tightening labor market, the already low unemployment rate fell a tenth of a point to 4.7 percent.

The news was likely to increase the chances that the Federal Reserve will raise its benchmark interest rate next week.