In August 2013, a University of North Carolina Law School paper estimated that the legal job market would balance out, not because of increased jobs, but because the supply of law school graduates would decrease. According to a recent Kaplan Test Prep Survey, the decrease in supply is happening sooner than previously thought.
The survey, released on Oct. 1, 54 percent of law school admissions officers said they have decreased the size of their incoming classes for 2013-2014. This makes two years in a row with falling class sizes, as 51 percent reported smaller classes for 2012-2013. The trend does not seem to be pointing upward either, as 25 percent say they already plan to cut class sizes for 2014-2015 as well.