Wednesday, February 25, 2015
The Executive Director for the National Association of Law Placement ("NALP"), James Leipold, states in an article for the National Law Journal that the job market for new law grads has been steadily, if modestly, improving for the past three years and he expects that trend to continue in light of reduced competition for new jobs due to falling law school admissions and a generally improving economy. A brief excerpt is below but you can read his full prediction and opinions here.
Increased hiring and reduced law school enrollment could spell happy futures for graduates.
Despite the endless publicity about the poor job market for law school graduates since the recession, the entry-level legal job market has actually been improving for the past three years. The improvements have been incremental, and it is still a scrappy and competitive job market for new law school graduates, but falling law school enrollment and a strengthening economy are likely to support continuing improvements for the next few graduating classes.
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In some ways, the oversupply problem has begun to solve itself. According to the American Bar Association, the class of 2017, which is the class that started as first-years this past fall, was made up of just 37,924 students, almost exactly the number of jobs found by the class of 2013.
It would be naive to say this alone will take care of the jobs problem for law graduates, but in some ways it will. Certainly, an improving economy and a shrinking graduating class are going to help.
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Continue reading here.