Using Halpha spectra of 114 rest-frame UV-selected galaxies at z~2, we compare inferred star formation rates (SFRs) with those determined from the UV continuum luminosity. After correcting for extinction using standard techniques based on the UV continuum slope, we find excellent agreement between the indicators, with <SFR_Ha_>=31M_{sun}_/yr and <SFR_UV_>=29M_{sun}_/yr. The agreement between the indicators suggests that the UV luminosity is attenuated by a typical factor of ~4.5 (ranging from no attenuation to a factor of 100 for the most obscured object in the sample), in good agreement with estimates of obscuration from X-ray, radio, and mid-IR data.