For Immediate Release September 3, 2004 Contact: Bob Vastine (202) 289-7460 August Data Show Resumed Strong Services Job Growth: Insourcing a Major Factor Washington - US employment data for August released today by the Bureau of Labor Statistics (BLS) show that US companies continue to add new jobs, partly by providing business services to foreign companies and consumers. These US services exports are also known as insourcing. The US economy sells much more services exports to foreigners than it buys or imports from them. “BLS data for August underscore a continuing trend in insourcing sectors, such as professional and business services, which have been generating new, well-paid US jobs since August 2003,” said CSI President Bob Vastine. According to these data, 108,000 of the 144,000 new jobs created in August were in services. Employment in professional and business services grew by 32,000 new jobs over the month. Nine thousand of these jobs are in computer systems design and related services. Overall this year, private services employment has increased by 1.1 million jobs, including 377,000 in professional and business services. US exports (insourcing) of professional, technical, business and other private services were $134 billion in 2003, $48 billion greater than US imports of such services. Growth in insourcing has helped offset US losses in travel and tourism accounts. Total US services trade was $51 billion in surplus last year. American exports of professional, business, technical, and other private services grew $0.8 billion from June 2003 to June 2004. US services exports create new well-paid, high-skilled jobs in the US. In 2002, average annual incomes in professional, scientific and technical services were about $73,000. # # # # # 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.