Home

Citi Law Watch Q2 Reports Show Law Firm Partners Losing Confidence in Economic Recovery
Download PDF
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...

While the Citi Law Watch’s Q2 Report shows law firm partner confidence index to be overall positive and much better than what it was in 2008, at least, there’s a slight drop after two straight upward moves from Q3 2011.

Historically, however, Q3, 2011 was one of the worst for law firms with the partner confidence index dropping below anything it had experienced from 2009 Q3 onwards. The analysts have declared that the drop in the confidence index of law firm partners is not so much due to problems in operations or demand/supply, but due to lack of certainty in the economic scenario, that usually besets an election year.

Even though overall confidence index of law firm partners dropped by 7 points from Q1 to Q2, 2012, 46% of law firm partners did not find any difference between Q1 and Q2, and 28% of law firm partners felt that the situation was actually somewhat better than the previous quarter.

  
What
Where


Considering the extremes, the market does seem to be better, if we consider that only 1% of law firm partners considered Q2 to be ‘considerably worse’ than Q1, as against 8% law firm partners who were convinced of the situation being “considerably better.”

However, when it came to questions about the economy at large, there were none who thought the situation was either considerably better or worse. At least 21% law firm partners opined that the situation was somewhat worse, against the opinions of 35% who felt the economy at large was “somewhat better” and 44%, who felt it was all the same.

Overall, partner confidence index showed a drop of 19 points when it came to the economy at large. Also, partner confidence in business conditions of the legal profession showed an overall drop of 10 points between Q1 and Q2.

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!!




So, the profession is definitely out of the recession, and in a position much better than 2008, but curiously, not in a position better than either 2010 or 2011 for the same period.





 

RELEVANT JOBS

REAL ESTATE ATTORNEY

USA-PA-West Chester

SunEast Development LLC is a leading developer of utility-scale PV solar projects in the eastern U.S...

Apply now

Paralegal - Torts & Insurance Litigation

USA-FL-Fort Myers

Henderson Franklin is currently accepting resumes for skilled paralegals in our Torts and Insur...

Apply now

Law Clerk

USA-DC-Washington

C2 ALASKA, LLC Washington, DC   The Law Clerk II Journeyman- Division of Enforcem...

Apply now

Director of Administration

USA-VA-Arlington

Director of Administration (Communications/Litigation/Transactional Law Firm) Fletcher, Heald...

Apply now

BCG FEATURED JOB

Locations:

Keyword:



Search Now

Electrical Engineering, Computer Science/Engineering Associate Attorney

USA-IL-Chicago

Chicago office of a BCG Attorney Search Top Ranked Law Firm seeks electrical engineering, computer s...

Apply Now

Attorney

USA-FL-Jacksonville

Jacksonville office of a BCG Attorney Search Top Ranked Law Firm seeks an attorney with 4-20 years o...

Apply Now

General Liability Associate Attorney

USA-GA-Atlanta

Atlanta office of a BCG Attorney Search Top Ranked Law Firm seeks general liability associate attorn...

Apply Now

SEARCH IN ARCHIVE

To Top