Thursday, March 6, 2014
Close to guaranteed legal employment is the long-term future of the legal market according to René Reich-Graefe.
Keep Calm and Carry On
"This Essay examines some of the hard data available for today’s legal market and develops very basic forecasts and hypotheses about what the future will bring for the U.S. legal profession during the next decades. In conclusion, it projects that recent law school graduates and current and future law students are standing at the threshold of the most robust legal market that ever existed in this country — a legal market which will grow, exist for, and coincide with, their entire professional careers. Using admittedly back-of-the-envelope math based on current trends affecting the legal market (in particular, lawyer retirements, population growth, and additional demand for legal services driven by increased volume and complexity), the Essay estimates over 840,000 new employment opportunities for lawyers between 2010 and 2030 alone. In other words, the Essay projects that, statistically, the legal profession market is moving into the direction of close-to-guaranteed legal employment for all law school graduates over the course of the next two decades."
To be honest, I'm a little skeptical, but you can read the article for yourself.