Friday, May 3, 2013
In this video report from Bloomberg, Paul Barrett, the assistant managing editor and senior writer for Bloomberg Businessweek, says that BigLaw is "experiencing a very difficult crash landing that is taking place now and will persist for at least another several more years." But it's not just AmLaw 200 firms that are heading into hard times. Mr. Barrett says he estimates that law schools will graduate 176,ooo more students this decade than there are jobs causing, in his words, "a lot of younger people . . . to suffer" because it's an "empirical fact" we've been producing too many lawyers for too long and "there just aren't enough jobs for them."