The U.S. recovery is "sustainable" and the economy is unlikely to see another dip, Jeffrey Lacker, President of the Federal Reserve Bank of Richmond, told CNBC.
“Friday’s employment report is evidence that the labor market is bottoming out,” Lacker said.
US nonfarm payrolls rose 162,000 in March, after February’s drop of 36,000. The unemployment rate held steady at 9.7 per cent for the third straight month, as expected.
