Law Firms See Fall in Revenues
12/08/11
Law Firms See Fall in Revenues
The Census Bureau's quarterly services survey showed that the legal industry's revenue fell by about $970 million in the previous quarter. This drop wiped out gains made in the second quarter of 2011 when revenue had grown from $60.74 billion in the first quarter to $61.74 billion. J.P. Morgan has said that most law firms have been facing stagnancy after peaking in mid-2008. The legal industry has also lost around 3,000 jobs in the past 12 months.
Law Firms See Fall in Revenues
The Census Bureau's quarterly services survey showed that the legal industry's revenue fell by about $970 million in the previous quarter. This drop wiped out gains made in the second quarter of 2011 when revenue had grown from $60.74 billion in the first quarter to $61.74 billion. J.P. Morgan has said that most law firms have been facing stagnancy after peaking in mid-2008. The legal industry has also lost around 3,000 jobs in the past 12 months.
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