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Is the Economy Turning Around for Law Firms?

By Carolyn Elefant

Larry Bodine has some positive news for law firms: Recovery may be just around the corner. Bodine writes that a new forecast by First Research Inc. shows 3 percent growth is on the way for law firms, and firm layoffs are dwindling. Bodine writes that layoffs have slowed since April and May, when more than 1,000 people were laid off each month, and have dipped further this summer. Moreover, according to recent reports in the business press, the recession may be nearing an end. The index of leading indicators is rising at the same rate that has indicated the end of every recession since 1959. But do the positive economic signals mean law firms will go back to business as usual? Or are recession-induced changes like practical associate training programs here to stay? Feel free to weigh in below.

Full post as published by Legal Blog Watch on July 28, 2009 (boomark / email).