Number of lawyer layoffs hits 10-year high
WASHINGTON (AP) — In America, there are always people to sue or contracts to negotiate, right? Apparently there aren’t enough.
The recession is taking a steep toll on the legal profession, an industry long seen as immune from the ups and downs of the economy. Trying to weather the financial crisis, the nation’s largest law firms are laying off attorneys and delaying the hiring of others.
More than 3,000 lawyers have been laid off in the first three months of 2009. Just how bad is it?
The Labor Department said the number of unemployed lawyers jumped 66 percent last year to a 10-year high of 20,000.
The first time this year that three consecutive business days passed without one of the nation’s top law firms announcing job cuts came in mid-March, according to the Web site Lawshucks.com. They have counted 3,149 lawyer layoffs — just in the big firms, just in the first three months of the year.
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