Monday, June 8, 2009

A June snapshot of the legal marketplace

Here's a sampling from this week's news about where things stand today.

According to the Department of Labor, 1,300 legal services jobs were lost in May, 14,000 since January 1 and 25,000 in the past year. Is the worst behind us?

The New York Times describes the possible demise of BigLaw. is reporting that lateral hiring is hot and heavy at midsize firms as attorneys leave BigLaw for greener pastures.

In-house legal departments are also forsaking large firms in favor of more cost efficient small and midsize firms.  

Drinker Biddle and Reath is using outside resources to supplement the training of new associates:

In conjunction with its recent decision to focus on training of first-year associates for the first six months rather than billing them out to clients, Drinker Biddle teamed up with the Practical Law Co., which is geared toward corporate work. PLC offers attorneys model documents and clauses, how-to guides on certain areas of law, updates on new law and a searchable database of deals and securities findings.

Doug Raymond, head of Drinker Biddle's corporate and securities practice, said in an e-mail the use of PLC's services is one way to bolster its training program with the added benefit of focusing on efficiency.

Above the Law has started an open thread called "Is Anyone Coming to OCI This Year?"

We'll have to wait and see how these circumstances play out in our classrooms in the Fall.

I am the scholarship dude.


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