The latest report from National Association of Women Lawyers (NAWL) is out—and I thought to myself: Oh, this is going to be boring. I assumed it would say the same-old, same-old: that women’s progress in the nation’s biggest law firms is painfully slow.

But then I read the report more closely. So here’s the bulletin: Women in Big Law aren’t treading water; they’re sinking. Yup, the situation is dire.

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