For Immediate Release May 7, 2004 Contact: Bob Vastine (202) 289-7460 April Employment Data Show US “Insourcing” Continues to Contribute to Strong US Job Growth in Key Service Industries (Washington, DC) US employment data for April released by the Bureau of Labor Statistics (BLS) today show that US companies continue to create new jobs by providing business services to foreign companies and consumers (insourcing). “The BLS data for April show that services insourcing plays an important role in US employment growth, and creates thousands of new well-paid jobs,” said the CSI President, Bob Vastine. According to the BLS data, out of 288,000 new jobs created last month, 238,000 were in services. Employment in professional, business, and technical services (a key insourcing sector that includes legal, consulting, engineering, and other commercial services) grew the most, adding 123,000 new jobs over the month. The growth was mainly in management and technical consulting services, architectural and engineering services, and services to buildings and dwellings. US exports (insourcing) of financial, professional, business and technical services were $131 billion in 2003, $54 billion greater than US imports of such services. Total US services exports of $305 billion in 2003 exceeded imports by $60 billion. Growth in insourcing has helped offset continued US losses in travel and tourism accounts. The United States has had a surplus in its services trade since data have been collected. US services exports create additional well-paid high-skilled jobs in the US. In 2002, average annual incomes in professional, scientific and technical services were almost $73,000. “Restricting services outsourcing would be very detrimental to US competitiveness, since such services are used as inputs for US goods and services exports,” Vastine said. Through outsourcing, US companies are able to gain a valuable competitive advantage, much needed to sustain their excellent export record, and to operate successfully in foreign markets. # # # # # CSI is the leading business organization dedicated to reducing barriers to U.S. services exports and mobilizing support for domestic U.S. policies, including tax policies, which enhance the global competitiveness of its members. CSI was formed in 1982 to ensure that U.S. trade in services would become a central goal of U.S. trade policy and trade negotiations. It played a major role in the General Agreement on Trade in Services (GATS) and in the advocacy effort leading to the 1997 World Trade Organization (WTO) Basic Telecommunications and Financial Services Agreements. CSI’s knowledge of the process of services trade negotiations, its ties to the WTO and its network of relationships with governments and industry in other countries are unmatched. For a complete list of CSI members, visit our website at www.uscsi.org.