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The Economist: Legal job market ‘remains dire’

A recent Economist article discussed the “soaring” number of people applying to law schools, the “growing” debt loads of the grads and the increasing number of those grads finding out their expectations of what the opportunities available to them would be were “overblown.”

None of this is news, of course, to our blog readers. The shocking part is that, outside the legal profession, the vast majority of the country stills seems largely unable or unwilling to recognize this problem.

“The legal-job market in America remains dire,” the Economist sums up succinctly. (And, by the way, Francisco Franco is still dead.)

Meanwhile, between 1996 and 2008, private law schools’ median tuition almost doubled, to just under $34,000 a year, the magazine goes on to report. (In Minnesota, private law schools hover around $40,000 a year, and the one public school, the University of Minnesota, recently announced a 13 percent tuition hike for incoming first-year students who are state residents.)

The Economist article goes on to discuss many of the issues that have come up here frequently, including the students’ calls for greater transparency in law school placement statistics and the desire of students, law firms and their clients for law schools to provide more practical training.

“In America, clients grumble that they are being billed at high rates for recent graduates who contribute little. ‘Clients shouldn’t be paying for law firms to train people,’ is their refrain,” The Economist says.

“Right now, many graduates wish they could get anybody to pay them for anything,” the piece sagely concludes.

File this one under, “No new news is bad news.”

One comment

  1. Then why can’t Charlie Rangel find a lawyer?

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