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November 5, 2012
BLS Stats Show Really Bad News For Law Grads
The Bureau of Labor Statistics predicts 73,600 new lawyer jobs between 2010 and 2020. The ABA Journal tells us that 132,757 newly minted lawyers have graduated in the last two years. The obvious question is where are we going to put the coming surplus in the next eight years? And how are they going to pay off their debts?
Fortune’s list of fastest growing jobs shows growth in mostly in medical and medical-related fields. Jobs such as Physical Therapist, Medical Devices Clinical Engineer, and Home Care Nurse are leading jobs. Meeting/Convention Planner is on the list with a 43.7% growth potential over the next ten years. The median pay is $56,500. A marketing consultant position shows a ten year growth of 41.2% with a median pay of $92,100. I have to believe that a hotel and hospitality degree is a lot less expensive than law school. I’m not so sure about the costs for business school or medical/nursing programs, but the jobs seem to be there. It’s going to be pretty dire out there for law graduates if the BLS predictions are accurate. [MG]