Fearing Budget Cuts, Government Lawyers Jump to Private Sector Some legal recruiters report that President-elect Trump’s plans to trim the ranks of government workers are prompting some rank-and-file government lawyers to look for work in the private sector, according to Reuters. One recruiter speaking to Reuters said he’s seeing five times the typical post-election volume of lawyers seeking to leave government work. According to the US Office of Personnel Management, more than 44,000 licensed attorneys work for the federal government. Legal industry insiders suggest lower-level attorneys with narrow areas of expertise may have trouble finding new positions in the private sector.
News Spotlight:
Regional Law Firms Seize on Second-Tier Markets for Growth Bloomberg Law: Full Article »
Industry Forecast
Sales for the US law firms industry are forecast to grow at a 3.4% compounded annual rate from 2024 to 2028, slower than the growth of the overall economy.
By the Numbers
Employment by law firms is relatively flat Overall employment by law firms changed -0.3% in October compared to a year ago, according to the latest data from the Bureau of Labor Statistics.
Wages at law firms rise Average wages for nonsupervisory employees at law firms were $49.78 per hour in October, a 2.6% change compared to a year ago.
Lion Business Advisors quarterly industry insights data provided by VerticalIQ industry intelligence platform
Industry Insight Report: Law Firms Q4-2024
Fearing Budget Cuts, Government Lawyers Jump to Private Sector
Some legal recruiters report that President-elect Trump’s plans to trim the ranks of government workers are prompting some rank-and-file government lawyers to look for work in the private sector, according to Reuters. One recruiter speaking to Reuters said he’s seeing five times the typical post-election volume of lawyers seeking to leave government work. According to the US Office of Personnel Management, more than 44,000 licensed attorneys work for the federal government. Legal industry insiders suggest lower-level attorneys with narrow areas of expertise may have trouble finding new positions in the private sector.
News Spotlight:
Regional Law Firms Seize on Second-Tier Markets for Growth
Bloomberg Law: Full Article »
Industry Forecast
Sales for the US law firms industry are forecast to grow at a 3.4% compounded annual rate from 2024 to 2028, slower than the growth of the overall economy.
By the Numbers
Employment by law firms is relatively flat
Overall employment by law firms changed -0.3% in October compared to a year ago, according to the latest data from the Bureau of Labor Statistics.
Wages at law firms rise
Average wages for nonsupervisory employees at law firms were $49.78 per hour in October, a 2.6% change compared to a year ago.
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