No Win No Fee Lawyer

According to an August 2009 Gallup Survey, a mere twenty five percent of Americans had good things to say about lawyers. Just three industries – the automobile industry, real estate, and oil and gas received more negative feedback. Even as we are in a recession sparked by Wall Street greed, bankers scored better than attorneys in this survey!

Economically, lawyers have taken a serious beating just like the rest of us civilians. Analysts say that law firms saw their “lawyer sales” drop by twenty one percent in the year of 2009. That puts those who work in the legal field in the second worst industry of the year, falling only behind the wood product manufacturing industry’s twenty six percent sales decline.

Since the recession began two years ago, the legal field lost 55,900 jobs as was noted by the Bureau of Labor Statistics. In the year of 2009 alone, 12,196 employees were let go by the largest law firms in the nation. In fact, the ten largest law firms in America made up about sixteen percent of the total firings.

Yet, with all of this bad news, one might be led to think that prospective lawyers may be more hesitant to go grab a J.D. Unfortunately just, the opposite is true. According to the Law School Admissions Council, applications to law schools rose by five percent for the next year’s incoming class. In the month of September, more than 60,000 students took the LSAT. The June and September tests showed an increase of almost twenty percent in the number of those test takers. This is the largest percentage increase in about eight years.

Incoming law students may dream about a six figure salary and a definite job that will abolish all of the student loan debtbut they shouldn’t hold their breath. Even students coming from the most renown law schools armed with good grades and the prestige of law journal experience claim they are having a tougher time finding employment. In fact, according to a recent LexisNexis survey twenty one percent of law students that took the polls wished that they had not gone to law school.

Mallory Megan works for a debt collection agency. She also composes articles on business and finance, consumer spending and collection agencies. Grab a totally unique version of this article from the Uber Article Directory