The overall demand for legal services dropped 5.9% from the same point last year, marking the largest drop in year-over-year quarterly demand since 2009, according to the Q2 peer monitor index from Thomson Reuters. But within that drop, the average rate billed jumped up 5.2%.
The report, which is a composite index derived from data collected from 160 major law firms in the United States and some international markets, gave the legal industry a score of 51, down six points from the previous quarter’s rating.
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