Thursday, February 8, 2018
I'm a couple days late in providing our monthly update from the Bureau of Labor Statistics on the status of legal sector job growth. But as the headline states, despite a strong economy overall (the recent stock market volatility notwithstanding), the legal sector lost 1100 jobs last month. Here are more details from The American Lawyer:
[T]he legal services industry . . .lost 1,100 jobs in January . . . according to preliminary data released Friday by the U.S. Department of Labor.
The agency’s Bureau of Labor Statistics showed a decline in the number of people employed in legal services in January over the prior month. The monthly BLS data release reported that 1,135,500 people worked in the industry in January, which includes lawyers, paralegals and legal secretaries, among other law-related professions. That’s down from 1,136,600 people employed in December, according to BLS. The agency’s data for both December and January is seasonally-adjusted, provisional and could be revised.
The BLS release follows on the heels of another recent employment-related report indicating that summer associate hiring was down in 2017 at the largest firms. Recent data from the National Association for Law Placement showed that summer associate class sizes declined at firms with more than 700 lawyers for the first time since 2012. [See also here]
Read more here.