Did we skip the litigators?
Recessions are typically best for litigation and bankruptcy lawyers. While we generally see a demand for high quality litigators, litigation attorneys used to prove somewhat recession proof. As we near the end of this recession (that’s right, I’ve declared that it’s over. I am willing it to be over.) I am seeing some differences in hiring trends. While bankruptcy practices have been hiring, litigation practices have not. The overall downward forces of the economy has been so strong that even usually resilient litigation practices have felt the pinch.
Here in New York, the early stirrings of the recovery are pointing to transactional lawyers being sought after. Does this mean that the cycle ebbed and flowed without bringing in some litigation upswing? Maybe. When the economy recovers (see? I said when, not if), there are certainly going to be ample opportunities for litigation practitioners. Even so, I believe that this recession hasn’t followed in the steps of other downturns–we may very well see transactional practices rebound before it’s time to staff up other controversy practices.
The next few months should be interesting. Who are the busiest lawyers in your firm?
Original post: Lateral Attorney Report