Jobs in leisure and hospitality have not yet returned to their pre-pandemic levels.

President of the Chicago Federal Reserve Austan Goolsbee considers the 175,000 employment growth in April to be “very solid.”

“It’s an indication that the economy is moving back toward the pre-Covid era,” he stated on Friday in an interview with Bloomberg TV.

“In a previous world, if you said you knew you’d be getting job numbers in the 175,000 to 200,000 range, people would be quite happy with that,” he stated.

Goolsbee declined to comment on whether the employment report would lead him to favor rate hikes or cuts this year, as several of his colleagues have suggested. Google does not vote on monetary policy decisions this year.

However, he continued, April’s jobs report and others like it are a good thing because they reassure policymakers that the economy is not overheating.

Prez Biden brags about the “great American comeback.”

Even after the most recent set of employment data fell short of forecasts, President Joe Biden noted that the US labor market is still robust, declaring in a statement that “the great American comeback continues.”

He stated in a statement on Friday, “When I took office, I inherited an economy on the brink, with the worst economic crisis in a century.”

“Now that we are in office, that plan is paying off, with well over 15 million new jobs created, working-age women employed at a record high rate, earnings rising faster than prices, and an unprecedented 27 months in a row with unemployment below 4 percent.

Other stories

• What is at risk in the antitrust lawsuit against Google? Billions of money (as well as our online habits)

• On May 12, 2021, a view of the U.S. Securities and Exchange Commission’s (SEC) headquarters in Washington, D.C.

• Check out the common financial mistakes to avoid in your 20s

• Election Rematch: Trump and Joe Biden set to face each other on US Presidential contest

• Fidelity Bank Ghana responds to allegations of FX mismanagement