Despite the weaker-than-expected April government jobs report, the nation's labor market should be at full employment by the Election Day, Moody's Analytics Chief Economist Mark Zandi said Friday.
Shortly before his comments, the Labor Department said the U.S. economy created only 160,000 nonfarm payrolls last month, well below the expected 202,000.
"My view, this means the labor market is still tightening," Zandi told CNBC's "Squawk Box." The April payrolls number is "still well above the 80K [or] 90K you need each month to absorb the working-age population," he added.
"I feel very confident that we are going to be at full employment, all in, all those part-timers who want hours, all those people who've stepped out and come back in, by Election Day," said Zandi.