The legal system can greatly affect nearly every aspect of the society, may it be as simple as crossing a street or as complicated as buying a home. Lawyers form the backbone of our society's system. With the growing disputes that people face each day, the demand for lawyers to settle each case increases in number. This idea gives us a clear and better picture that law opportunities are always there to stay despite the fact that there is a high competition for law jobs due to the huge number of students graduating each year from law schools.
Although warnings about a poor job market and an economy on the brink of a recession have filled the airwaves recently, the 2008 outlook for the legal market shows that it will continue to be a booming sector. Work, as well as jobs, in the areas of corporate securities, energy, and IP law in particular will continue to grow throughout the year. Moreover, salaries will also rise by 9.1% for attorneys, with first year associates who work at large firms earning $111,750 to $137,000.
This article deals with the hazards of the economic downturn and how legal professionals and employees are responding to the stress involved. Economic deterioration is a major issue with the lawyers, among whom a high rate of suicide has been reported. Law firms are resorting to pay cuts, layoffs etc.