FOR IMMEDIATE RELEASE
Contact: Bob Vastine
Tel: 202-289-7460
November 5, 2004
Strong October Employment Data Show Continued US Competitiveness and Growing Insourcing in Services
Washington – US employment data for October released by the Bureau of Labor Statistics (BLS) today demonstrate that US companies continue to create new service sector jobs, bringing the total of service jobs added this year to 1.7 million.
"The BLS data show that US companies remain very competitive in services insourcing and continue generating new, well-paid US jobs in such sectors as professional, business, and technical services," said President of the Coalition of Service Industries (CSI) Robert Vastine.
According to the BLS data, out of 337,000 new jobs created last month, 272,000 were in services. Employment in professional, business, and technical services, a key insourcing sector that includes legal, consulting, management, engineering, and other commercial services, added 97,000 new jobs over the month. Employment in administrative and support services, architectural and engineering services, and computer and related services grew the most.
US exports of professional, business, technical, and other private services were $134 billion in 2003, $48 billion greater than US imports of such services.
US services exports create additional well-paid high-skill jobs in the US. In 2003, average annual incomes in professional, scientific, and technical services were over $75,000.
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. 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.
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