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Lawyers In The Lurch

Steve Hathaway/Jupiter Images

By Michael Orey

Lawyers In The Lurch

When even lawyers are nervous about losing their jobs, you know things are getting rough. Typically, says T.J. Duane, a principal at legal recruiting firm Lateral Link, a law firm associate’s job has been an island of security—even when the economy fluctuates. Now surveys commissioned by Lateral Link reveal that attorney anxiety is high—and rising. In June, about 45% of associates (nonpartners) at major law firms said they feared they or their colleagues would get fired, up from 23% just six months ago. The fears are well-founded: The slumping economy has left many lawyers, particularly those who do real estate or business deals, twiddling their thumbs. Some 52% of those polled said work is slow. More than 25% said they wouldn’t meet their billable-­hour goals in coming months. And for the first time since the early 1990s, firms are laying off associates, Duane says. Lawyers, he says, “don’t have a sense of invincibility anymore.”