While 2020 brought unprecedented challenges for law firms, history may look back and see the year as a “tipping point” that accelerated significant changes in the law firm market. The 2021 Report on the State of the Legal Market from the Center on Ethics and the Legal Profession at Georgetown University Law Center and the …
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Drop in Demand for Law Firm Services Moderates in the Third Quarter: Peer Monitor Index
For many American law firms, the second quarter was an abrupt shock to the system. Yet it also provided ample time to chart a path forward, and firms did just that in the third quarter. The decline in demand for law firm services moderated in the third quarter as rates rose and firms took steps …
Large Law Firm Demand Continues to Drop — Peer Monitor Index
Demand for large law firm services fell 1.4% in the fourth quarter – the third consecutive quarterly decline and the biggest drop since Q1 2013. For the full year, demand fell 0.6% – the first annual decline in demand since 2013. Those are among the key findings from the Thomson Reuters Peer Monitor Economic Index (PMI) report for …