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WHAT WE’RE WATCHING
‘SUBSTANTIAL UNCERTAINTY’ - Law firms are relieved that COVID-19 has not been as financially ruinous for the industry as initially predicted, and there’s no question Paycheck Protection Program loans have helped many firms stave off dire austerity measures, but we’re still a long way off from a post-pandemic party. As Dylan Jackson reports, with PPP money dwindling and the recession’s timeline still blurry as new coronavirus cases flare up, firm leaders are still feeling plenty of pressure. “There’s still substantial uncertainty around the ‘second wave’ and the long-term economic impact,” said Sullivan & Worcester managing partner Joel Carpenter. “Supplemental unemployment is up at the end of the month. We’re cautiously optimistic, but we still don’t know where all this is going to take us.”
