Times are beginning to get tough if you are a lawyer, or so we keep being told. Events in the past year have added pace to a global economic slowdown and the legal profession has certainly not been spared. But despite the odds stacked against the profession, the demand for training contracts by students wanting to enter the legal arena shows no signs of abating. And although some firms have reported decreasing profits, the number of training contracts on offer remains high.
This contrasts with the recession in the 1980s, when training contracts were slashed as firms tried to cope with the downturn in business, only to find themselves with a talent gap a few years later when the economy picked up.
