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Latest U.S. jobs report shows more legal sector growth

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Latest U.S. jobs report shows more legal sector growth

Posted by: Latin Brains
Category: All, Law firms’ trends

According to data released by the Bureau of Labor Statistics the legal services sector added 600 jobs in May 2022 totaling 1,178,800. The job count includes lawyers, paralegals, and other legal professionals.

The May total is nearing the historic high of 1,179,500 legal sector jobs reached in May 2007, shortly before the Great Recession hit, which led to widespread industry layoffs. Factors such as shortage of legal talent and regulatory changes spurring legal work. Also, a surge in corporate deal work in 2020 and 2021 kept law firms busy and boosted recruiting.

Throughout the first five months of 2022, law firm jobs are opening and being filled at about the same rate, said Phil Flora, vice president of sales and marketing at Leopard Solutions, which tracks law firm hiring. Leopard tracked a record high of 12,000 open legal job positions in January and has seen the number remain relatively steady since then.

Author: Latin Brains