Free Market Evaluation - Send us your resume and we will give you free feedback
The Top 10 Law Schools by Number of Applications
The Top 10 Law Schools by Number of Applications
States Deciding Whether Business May Refuse Services to Gay Couples
States Deciding Whether Business May Refuse Services to Gay Couples
Louisiana Supreme Court Orders Oldest Judge Off Bench
Louisiana Supreme Court Orders Oldest Judge Off Bench
Uncovering the Motive in the Shootings of Chris Kyle and Chad Littlefield
Uncovering the Motive in the Shootings of Chris Kyle and Chad Littlefi...
Legal Job Listings
Download PDF

PMI Shows Legal Services Demands Slump for Another Quarter View Count: 29

The Hildebrandt Institute’s Peer Monitor Index (PMI) for Q3 2012 shows a decline in the demands for legal services for another quarter following Q2.  According to the PMI, after falling 0.8% the demand for legal services has now gone flat.

While expenses have slowed down amidst many factors, including law firms going all out to optimize costs and the economy taking longer than usual to recover, but still managing to hold the bottom. While capacity exceeds demand, productivity continues to fall and expenses continue to neutralize the benefits of incoming revenue. All in all, law firms continue to be in a pinch though top partners are affected negligibly.

Supporting a continuing trend in recent times, labor and employment still continues to experience growth and demand grew up to 2.5% in the third quarter. Even though for the past two-three years labor has been experiencing strong growth, the volume of growth in Q3 was the lowest in past two years. For the first time in two years, IP litigation saw a decline of 3.6%, while corporate work fell by 1.0%.

Confirming the continuing trend of clients shifting work from behemoths to smaller caring boutique law firms, while Am Law 100 saw a demand drop of 0.8%, and Am Law 200 saw a productivity drop of 3.5%, associated with headcount growing by 1.9%, midsized law firms keep faring better. In midsize firms, demand for legal services was up by 1.9% according to the PMI, and the Peer Monitor reasons the stronger demand was a result of “the best relative productivity performance” among market segments.

Get JD Journal in Your Mail
Subscribe to our FREE daily news alerts and get the latest updates on the most happening events in the legal, business, and celebrity world. You also get your daily dose of humor and entertainment!!




Source: Peer Monitor Index, Q3 2012 Executive Report – Issued 11.01.12, Hildebrandt Institute.

PMI Shows Legal Services Demands Slump for Another Quarter by

Tagged: ,

Posted by on November 3, 2012. Filed under Home. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.

 

 

Job of the Day
Senior Litigation Attorney
USA-DE-Wilmington
ATTORNEY DOES NOT NEED TO BE DELAWARE BARRED: Wilmington office of Maron Marvel Bradley & Anderson LLC has an opening for a senior associate with 8+ years of civil litigation experience to work wit...


Apply now

Related Posts: