Economy Sees Law Firms Defer New Hires

Northwestern to join ranks of universities offering 2-year law degree program

(NEWSER) - Northwestern University’s law school will offer its JD program, normally a 3-year commitment, in 2 years, a move designed to increase the school's competitive edge and respond to critics who say students with jobs lined up coast through their final year. Northwestern isn't pioneering the approach, but as the first top-tier school to offer a shortened program, other elite universities may follow, Time reports. More»

(NEWSER) - Top law school grads are competing this fall for just half the number of entry-level positions big firms offered last year, in what the New York Times calls the most difficult employment season in half a century. One of New York's biggest firms has cut its hires by more than 50%, while a respected Philadelphia firm has foregone hiring completely. At top-ranked Yale, many leading law firms aren't even bothering to recruit. More»

Lots of new grads, but big salaries are hard to come by

(NEWSER) - Lawyers are entering the work force in record numbers, but demand—and salaries—aren't keeping up. Law schools advertise six-figure starting salaries for grads, but these wages materialize only for those from elite schools or at the top of their class, the Wall Street Journal reports. For the rest, $20-an-hour contract work may be the best they'll get. More»

Money invested will be paid back, and then some: Henry M. Levin and Cecilia E. Rouse

(NEWSER) - In his State of the Union address , President Obama called on all states to require that students stay in school until they graduate or turn 18. It's a good start, but it doesn't go far enough, write economics professors Henry M. Levin and Cecilia E. Rouse in the New York Times . Since 1970, the US has dropped from the top spot all the way to No. 21 when it comes to high school completion. Just seven out of 10 ninth graders will graduate, and that dropout rate "imposes a heavy cost on the entire economy, not just on those who fail to obtain a diploma," they write. More»

Unemployed grads furious over dry job market

(NEWSER) - Recent law school grads are having a tough time finding a job, and there’s a very good reason for that: the recession drove tons of people into law school. Between 2007 and 2009, the number of people who took the LSAT shot up 20.5%, Slate reports, as students decided to sit out the recession in classrooms. At the same time, loads of universities have tacked on law schools—critics accuse the Bar Association of approving too many. More»