Based on an AmLaw Daily report, based on a Citi Private Bank Report, Brian Tamahana reports:
This is the worst market for legal employment in at least four decades–with no sign of a turn-around on the horizon.
For the past year, I have been saying that the collapse of the legal market has finally hit bottom and is poised for recovery. I will stick with that prediction until it comes true. There have been some peeks of daylight on other indices (though good news for others might be more bad news for lawyers (at least in certain areas of practice)).