Beginning Next Week: InsideCounsel will become part of Corporate Counsel. Bringing these two industry-leading websites together will now give you comprehensive coverage of the full spectrum of issues affecting today's General Counsel at companies of all sizes. You will continue to receive expert analysis on key issues including corporate litigation, labor developments, tech initiatives and intellectual property, as well as Women, Influence & Power in Law (WIPL) professional development content. Plus we'll be serving all ALM legal publications from one interconnected platform, powered by Law.com, giving you easy access to additional relevant content from other InsideCounsel sister publications.

To prevent a disruption in service, you will be automatically redirected to the new site next week. Thank you for being a valued InsideCounsel reader!

X

Legal services jobs see slow growth, demand drops

Separate reports indicate the sector is struggling

According to the October jobs report, legal services jobs are up—but barely.

The legal services sector grew by 600 jobs last month, the Department of Labor reported on Friday. Legal services account for more than 1 million jobs overall, but the sector has yet to see any big increases this year. Since October 2011, legal services has grown by 6,600 jobs, the report indicates. The country’s overall unemployment rate stands at 7.9 percent.

According to a separate report by the Peer Monitor Index, a Thomson Reuters product, demand for legal services in the U.S. has declined for the second straight quarter. The index analyzes factors affecting law firm profitability and measures changes. The report said law firm billable hours dropped 0.8 percent in the third quarter. Last quarter, it had dropped 0.2 percent.

According to Peer Monitor, all practice areas saw a drop in demand except labor and employment, which experienced a 2.5 percent uptick. Additionally, firms’ direct and overhead expenses increased by 3.5 percent and 3.4 percent, respectively.

"Such an extended period of essentially zero or negligible growth is worrisome as law firms both struggle to maintain their equilibrium in the short-term, and try to plan for the road ahead," Peer Monitor said in a release.

For more InsideCounsel stories about law firms and the legal services sector, see:

Former deputy attorney general joins Morgan Lewis

General counsel fight law firm bills for photocopies, food

Kim Koopersmith to become first woman chairperson of Akin Gump

Akin Gump acquires 7 Haynes and Boone partners

Baker & McKenzie becomes first U.S. law firm to open Peru office

Jobs up in legal services sector

2nd Circuit considers Jacoby & Meyers’ challenge to NY ban on outside law firm investment

Law firm mergers rebound in third quarter, involve smaller firms

Median first-year associate salaries drop to $145,000

Study says Biglaw profits look “grim” for 2012

Law firm managing partners lose confidence in economy

Editor

Cathleen Flahardy

Bio and more articles

Join the Conversation

Advertisement. Closing in 15 seconds.