Friday, September 9, 2011
Cooley Law School report finds "the blogs and media have it almost completely wrong" - law school is a great career choice
Paul Campos and Elie Mystal are going to blow a gasket over this one. Cooley has released a report concluding that the state of the legal job market is not as bad as many have been claiming. The report, the first in a series that will analyze the legal job market, is based on data from the Bureau of Labor Statistics. A second report will analyze NALP data and the final report will discuss compensation for attorneys,
This first report, dated August, 2011, can be accessed here.
In the meantime, an excerpt from the report's conclusion:
Contrary to the assertions of the bloggers and media, who tend to rely heavily on anecdotal information about the world of the large law firms, the legal occupations and lawyers in particular have been considerably less affected by the recession than other management and professional occupations. Of the ten management and professional occupation categories identified by the Bureau of Labor Statistics, legal occupations had the smallest increase in unemployment rate both from 2001 to 2010 and from 2007 to 2010. Among the more detailed management and professional occupations most likely to be career options for potential lawyers, only a handful had lower unemployment rates than lawyers at the end of the decade.
. . . .
In sum, the data shows that the blogs and media segment have it almost completely wrong. Unbiased national data from the past ten years establishes that the legal profession has one of the lowest unemployment rates, one of the most stable job markets, and is one of the least susceptible to the effects of economic recession, making the legal profession one of the best career choices.
Hat tip to Professor Michael Masinter.