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MADISON, Wis. – With the addition of 308,000 jobs in March, credit unions might be encouraged that the nation’s economy is really on an upswing. In its most recent Marketline report, MEMBERS Capital Advisors cited data from the Bureau of Labor Statistics Report released recently that showed the economy added an average of 170,000 jobs per month during the first quarter of 2004, well above the level that is generally believed to be necessary to keep up with growth in the labor force. “While the robust payroll growth and upward revisions to the last two months’ job growth are encouraging, it is worth remembering that in the past improving labor markets have led more people to start actively trying to enter the workforce, temporarily raising the unemployment rate,” MEMBERS Capital wrote. The Bureau of Labor’s report caused “volatile trading, with U.S. Treasury bond prices dropping sharply, particularly at longer maturities,” a reminder to investors about “the potential volatility of bond prices when market participants expect interest rates to change direction in the near future,” said MEMBERS Capital. MEMBERS Capital Advisors is the registered investment advisor for CUNA Mutual Group.

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