Like for that of many other professions, the current economic recession does not present an optimistic picture of the job market for lawyers. Many large firms are now making redundancies as teams of lawyers are being laid off. Firms across the country are closing up shop. Very little work comes in to keep the remaining firms afloat.
Beginner's Luck
Ironically, those just entering the legal profession have some advantage because it doesn't cost as much to employ them as someone with experienced pay. This may be a callous reality for those who have invested a lifetime in their careers, but it's an advantage for the new graduate. The difficulty comes from the fact that there is an overwhelming demand for the few openings available.
This trend will continue as long as the recession. In fact, these problems hit the legal profession far ahead of the rest of the economy. There is no easy fix. Redundancies will only stop as the economy improves. Until then, legal professionals will just have to do what they can.
There's good reason for those who have invested in legal careers to be disappointed and resentful. Lots of time, money and hard work has gone into the beginnings of careers that are now at a standstill.
A Matter of Attitude
Like the global recession, the availability of jobs in the legal field is affected by attitude. Like consumers, law firms fear investing in these tightening times, making a bad situation even worse. They often announce vacancies and hold interviews only to put the position on hold due to economic pressures. This can create a backlog of legal perspectives looking for jobs, which will only change as the economy recovers.
Paralegals and Legal Assistants Enjoy Growing Demand
The field for paralegals and legal assistants, however, is growing. This is due to firm cutbacks, who send the work to paralegals and legal assistants, rather than attorneys, in order to save money. Added to this is the demand for work caused by E-discovery. Paralegals and legal assistants continue to enjoy demand, though a lot of it is through contracted freelance work. The pay isn't as great, but at least it's a job, and help is often just a phone call away from a legal staffing company.
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