The Legal Market In Transition

Law360, New York (August 27, 2010, 12:10 PM EDT) -- It has become much riskier to be a lawyer over the last several years, which is particularly unfortunate as the law is a profession comprised largely of risk-averse individuals.

Law firm hiring is drastically down — more people were laid off by more firms last year than had been reported for all previous years combined, and firms continue to defer and rescind offers to new graduates. Such conditions have created a backlog of attorneys in an already competitive law firm market.

In a study published recently,...
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