July 2013 featured a 2,800-worker gain over June, subject to the usual wholesale revision up or down. Year-over-year was a little better than flat.
Three-year growth was around 16,000. It would have been a lot larger but for the massive earnings potential of a JD luring holders away from law and into even more lucrative endeavors, making recruiting difficult. I'll get to Simkovic's paper eventually. In the interim, I encourage the terminally credulous to enroll somewhere, anywhere this fall. Remember the ABA motto, "It's a mistake to retake."
http://www.bls.gov/news.release/empsit.t17.htm
| Not seasonally adjusted | July | 2012 | 1,135,100 | |
| May | 2013 | 1,125,100 | ||
| June | 2013 | 1,134,500 | ||
| July | 2013 | 1,138,800 | 3,700 | |
| Seasonally adjusted | July | 2012 | 1,123,200 | |
| May | 2013 | 1,126,900 | ||
| June | 2013 | 1,124,200 | ||
| July | 2013 | 1,127,000 | 3,800 | |
| Change from Jun-13 to Jul-13 | 2,800 |
Keep in mind that if there were 16,000 new jobs created in three years, there were also roughly 135,000 new law school graduates in that time. Of course, a few retired or died. But old fossil lawyers tend to stick around well into their 70s, if not longer.
ReplyDeleteGoing to law school is a terrible bet. No one can validly refute that reality.
For the most part, law school is a reality-free zone. Reality begins when the loan payments do.
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