Saturday, November 22, 2014

New employment numbers by BLS suggests law school class of 2016 will have better job prospects

The ABA Journal Blog has the story here.  What it boils down to is that the Bureau of Labor Statistics has changed the way it calculates projected job openings in the legal services sector.  Until now, the BLS based its job projections on the assumption that those who enter the legal profession stay until they get old or retire.  In reality, many lawyers - I recall reading a story several years ago that put the figure at 50% within 10 years - leave the profession much earlier than that to pursue alternative careers.  As a result, the BLS may have been greatly understating the number of new jobs openings in the legal services sector.  From now on, the BLS will measure measure attrition through survey results rather than relying on assumptions about cradle to grave career paths.


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