- The legal sector added 3,000 jobs in June, reaching 1,185,600 jobs, according to US Labor Department
- Law firm corporate practice hiring has slowed, but litigation, real estate are busy, recruiters said
(Reuters) – The US legal services sector now has more total jobs than it had when the count hit its previous high point in 2007 shortly before the Great Recession, according to US Labor Department data released Friday.
The legal sector added 3,000 jobs in June, reaching a total of 1,185,600, the preliminary seasonally adjusted Bureau of Labor Statistics data showed. This exceeds the historic high of 1,179,500 jobs the sector reached in May 2007, according to BLS data.
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Newly revised data for May 2022 also shows the sector cracked its previous 2007 record that month, with a total of 1,182,600 legal sector jobs.
The May 2022 data was revised up from 1,178,800. BLS jobs numbers are subject to adjustments in months after they are first released.
Overall US job growth beat expectations in June, and the unemployment rate held steady at 3.6%.
Legal recruitment leaders said demand for lawyers remains high in certain practice areas. However, the practice groups for which firms are hiring have shifted, they said.
In 2021, law firms battled for talent amid a surge in client demand and shortage of lawyers to handle the work.
There has been a slowdown in law firm hiring for capital markets and mergers and acquisitions attorneys, said Katherine Loanzon, a managing director at legal recruitment agency Kinney Recruiting.
Global M&A activity dipped 21% in the first half of 2022 over the same period in 2021, according