How will the economic crisis impact the legal profession?
The ABA Journal is surveying lawyers about the job market and the current state of the economy. To participate in the online survey, follow this link.
Non-lawyer readers, we'd like to hear what you think too. Leave us a comment about what you think the impact will be on lawyers and law firms, and how the current economy is affecting your profession.
Non-lawyer readers, we'd like to hear what you think too. Leave us a comment about what you think the impact will be on lawyers and law firms, and how the current economy is affecting your profession.
Posted by Administrator at 11/18/2008 9:32 AM 
Categories: What They Don't Teach in Law School, Polls and Surveys
Categories: What They Don't Teach in Law School, Polls and Surveys
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12/20/2008 12:00 PM
The Law Blog - Joseph P McCaffery wrote:
Last month as a courtesy to the ABA Journal we posted a link to its survey of attorneys on the economic impact on the profession. Results are available by following this link.
I am not a lawyer but I think that we might see a decrease in small, petty lawsuits. People seem to be opening their eyes to the fact that money is tight. They will need their money to pay off their debts not to retain a lawyer in a small lawsuit.
The economy is not having a huge impact on my profession (I am a chemist) but money is pretty tight around the office. We have to get approval for most purchases over $1000.00. Some pretty expensive equipment we planned on buying with some extra budget money has been postponed indefinitely. Also, there is a hiring freeze. This is tough because we have had people leave on their own and management is not replacing them. So I am pretty much doing work for 2 people. This also might affect our raises and bonuses.
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I see your point but I think a lot of people are going to be defending lawsuits from credit card companies because they can't pay their bills. I operate a small professional services business and I haven't seen significant impact yet, even though some of my clients are in the real estate industry, but expect that either business will drop with client belt-tightening, or significantly increase becasue of layoffs and the need to outsource to my company. Many of my clients are not just concerend about the economy but as small businesses the need to provide health insurance under the Obama plan, which may lead them to layoffs and outsourcing to save that cost and invest dollars in their businesses.
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At the time of financial crises we need to come together united and try to solve the problems which are responsible for such a hazard. We need to overcome it. It is meant to bring calm to the population and markets and display government strength and stability.
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