Detroit’s largest law firms saw some gains in headcount and revenue during the past year — but most of the increase wasn’t in Michigan.
The state continues to suffer from the recession, with the unemployment rate still at 10.5% as of July, according to the U.S. Department of Labor’s Bureau of Labor Statistics. Law firms with roots in Detroit were able to grab some domestic work, mainly focused on regulatory changes, international investments and litigation. But an anticipated growth in bankruptcy work never materialized, and real estate activity is all but nonexistent. Most have looked outside Michigan to generate revenues.
