There was a recent report highlighting the fact that the legal sector will never return to its pre-recession heyday. The report was jointly produced by the Center for the Study of the Legal Profession at Georgetown University Law Center and Thomson Reuters Peer Monitor.
Too many lawyers, chasing not enough work, and pressure from clients to provide discounts have become a fact of life in the current market.
In fact, because of the high unemployment, law school applications are on pace to hit a 30-year low. Since the recession, the fraction of new J.D.s finding a full-time job requiring a state bar license dropped from 74 percent down to less than 60 percent, according to data compiled by the National Association for Legal Placement.
To read the full, original article click on this link: 4 Lessons The Shifting Legal Sector Can Teach Small Business Owners
