Question: How many lawyers does a slow economy produce? Answer: More. The number of lawyers in the USA exceeded 1 million for the first time in 2003. And the number of people taking the Law School Admission Test (LSAT) in 2003 is near the record 152,242 set during the last recession, in 1991. The two-year record of 300,020 of 1990-91 stands an equally good chance of falling in 2002-03.
Will the additional lawyers find work? Most likely they will, because companies will continue to combat the fear of litigation, says Walter Olson, senior fellow at the Manhattan Institute and editor of overlawyered.com. A Business Roundtable survey of CEOs of the nation’s largest companies this month said they were worried most about rising health care […]