Regulatory Law and In-House are the hardest hit according to job ads index

Has Coronavirus infected the legal job market? Elias Legal Job Index 2020 By Jason Elias The Elias Legal Jobs Index is compiled quarterly and identifies changes in legal job ad volume in NSW and Victoria, by practice area and by role seniority. Changes in job ad volume reflect hiring intentions, and is often used as an indicator of market confidence.   In this quarter’s analysis, we have compared data from Q4 FY20 versus Q3 FY20, to assess the effect of the Covid-19 pandemic.  We have also compared data from Q4 FY20 versus Q4 FY19, to assess the change versus the same […]

No surprise that law job ads have plummeted

Update from seek.com.au The latest numbers show just how much coronavirus has impacted the labour market. Since the beginning of March, national job ads (all sectors) have declined by: 12.6% in week ended 8 March and, 17.3% in week ended 15 March and, 41.3% in week ended 22 March and, 64.6% in week ended 29 March and, 65.3% last week, week ended 5 April. Victoria and New South Wales are showing the biggest declines in the past week with job ads down 71.6% and 67.4% respectively. Where the jobs are: Essential retail services: roles across warehouse and distribution such as […]

Money doesn’t motivate: 3 psychology-backed reasons that prove it

By Trevor Glass. Do you believe the more your employees are paid, the more motivated they will be? This has been the accepted notion for ages. Now, however, with more studies being conducted, the research suggests that motivation is far more complex than we first thought. Compensation plays an important part in that, but even the employees that are most in favour of the link between pay and motivation agree pay isn’t everything. A higher salary won’t make the duties more pleasurable or nurture a newfound fondness for work. 1. Control leads to rebellion Psychologist B.F. Skinner discovered the operant […]

Negotiating your salary in a declining job market

Since May 2019, the number of Solicitor positions advertised on the internet* has declined each month. For each of those months the decline has been getting bigger as a percentage compared to the previous year. Job ads for Solicitors in September 2019 were down by 11% compared to September 2018. This is almost double the decline compared to the all-occupations category.  September 2019 shows a stabilising of the decline. For solicitor positions it is no worse than the August year-on-year decline. For all-occupations there was still a decline of 6% in September 2019 compared to September 2018 although the decline […]

Prominent Lawyer and activist – Stewart Levitt – releases poetry book with his take on politics, religion and life

Stewart Levitt, best known for his work as a lawyer successfully fighting public causes against banks and governments for the underdog, whether Indigenous outliers or down-at-the heel farmers, has released an anthology of poems titled ‘Too Soon to be Late’. Drawing on his liberal values, Jewish heritage and experience as an Australian lawyer, the 184-page compilation has been written by Stewart over twenty years. The content explores themes associated with his career, including social activism, politics and human rights, as well as his personal experiences related to his close-knit family and travels around the globe, to every continent except Antarctica. […]

Decline in demand for employee solicitors

According to the measure of job ads advertised on the internet, the demand for employee solicitors has declined by 17% in one year. This wipes out almost entirely the positive increase over the two prior years.  Before the last 12 months, the demand for employee solicitors has been buoyant over the last few years, rising at a faster rate than the demand for employees across the economy. The reversal in the legal sector has been much sharper than the general economy. The rate of decline has been 2.7 times greater in the legal sector.

Top 10 facts you need to know about biglaw and in-house employment trends

This is Legal Practice Intelligence’s analysis of the highly regarded Mahlab Reports, 2019 Edition: Law Firms 1) Major law firms are becoming comprised of high-perfoming and low-performing (revenue and profit) practice groups. The challenge will be to minimise the conflict within firms or else risk losing core service areas. 2) Law firm lawyers are being relocated around Australia – following the work. 3) Law firms are offering clients contract-hire lawyers. If you can’t beat the contract hire companies then copy them.  4) There is an increased use of contract-hire staff inside law firms, particularly at senior associate level.  5) Increasingly, […]

Supply and Demand for Lawyers: Gloom and Boom

There are few things more steady and predictable than the ever-increasing number of practising lawyers. Using NSW as an example, the increase was 4% between 2015 and 2016. Since then it has been close to 5% per annum. Is that sustainable? Is it adding to competitive pressures for jobs, for partnership openings and for practice owners?  The gloom First the gloomy facts. As the diagram below shows, annual economic growth in NSW over the past few years has mostly been in the range of 2% to 4%. During the property boom it popped out to 4.8%. If we use 3% […]

The Dark Side of Law Firm Partner Appointments

AFR has published its June/July annual partnership survey. The survey lists the largest and best known law firms in Australia. Our analysis of the statistics published in the survey confirms our expectation that 2018/19 financial year was a good year for these types of law firms. Some firms did better than others. Some merged ‘out of existence’. Some did badly but on the whole it was a year of growth.  We don’t have the final figures for the growth rate in 2018/19 GDP but it was likely to be around 2%. For the group of 53 firms listed in the […]