The demand for employed lawyers, as measured by job advertisement numbers on the internet, has been worsening each month since March 2020.
Australia wide, the number of job ads for solicitors was down by 19% in March 2020 compared to March 2019. In April 2020 it was down 40% compared to April 2019. In May 2020 down 59% compared to May 2019 and June 2020 was down 66% compared to June 2019.
These numbers are so bad that they are even worse than the Australia-wide all-occupations job ads which bottomed out at 47% down in May 2020 compared to May 2019. It did not get any worse in June 2020. The seasonally adjusted trend was actually up in June.
The demand for employee lawyers continued to worsen even though the demand for all other occupations, as a whole, stabilised.
Job ad numbers for solicitors in June 2020 was lower than any other month since the series began in 2006. It was worse than any previous January which is traditionally the weakest month for job ads.
Is there any good news amongst this data? Perhaps we have reached the bottom. Surely, it can’t get any worse than this.