Alright, we already know that the strongest shinobi who resides in Konoha is Hokage. So I would assume that the 3rd is still the strongest in Konoha because if he wasn't then they would apoint a new Hokage. It would make sense that when the 4th was hokage the 3rd was retired and when the 4th died someone had to step up and become hokage. Since the 3rd was the strongest shinobi in konoha he became hokage again.

Also i don't want people to think i'm saying the 3rd is stronger than oro or jiraiya. Im just saying he is probably the strongest shinobi in konoha. Remember Jiraya and Oro don't really live in Konoha.

I dont know if that made any sense