The legal practice has long been thought to be recession proof.
According to the Bureau of Labor Statistics “Lawyers held about 761,000 jobs in 2006. Approximately 27 percent of lawyers were self-employed, practicing either as partners in law firms or in solo practices.”
In a 4/14/09 AP article in the WSJ, “more than 3000 lawyers have been laid off in the first three months of 2009.” That figure is low, including only layoffs reported by the top law firms.
The Labor Department reported that, in 2008, the number of unemployed lawyers jumped to a 10 year high of 20,000. “Law students graduating with jobs this spring are being paid to delay their start date.”