Wednesday, March 23, 2011
From the National Law Journal:
The employment picture is looking up for recent law grads — at least a little bit.
New figures from the National Association for Law Placement (NALP) show that offer rates to summer associates rose from the historic low of 69% in 2009 to 87% in 2010. That 18% increase puts offer rates back in the ballpark of the 90% offer rates of 2008, which was the last summer program season before the financial crisis hit in earnest.
'These numbers describe a soft bounce in the market,' said NALP Executive Director James Leipold. 'Clearly, from a recruiting perspective, the most dramatic impact of the economic downturn has passed, and law firms are beginning to return to the market for new law school graduates with more confidence than they had at the height of the recession.'
However, Leipold warned that recruiting gains in 2010 were minor, and that the legal industry is still recovering.
. . . .
'My expectation is that this slow growth in entry-level recruitment activity will continue, but it will be some years before we see a return to the sort of robust recruiting levels we saw in 2006 and 2007," Leipold said. 'And as for summer associate class size, we may never see those numbers return to what they were before the recession.'
You can read the rest here.