Briefing Database: OCTOBER 2019

Briefing will be having a regular brief rummage in Peer Monitor’s legal business ‘basket’ to pick out some of its most telling benchmark data pieces.

This month, how did global demand for lawyers and their services look
halfway through 2019?

But in some cases, the number of lawyers doing that work is also significantly up. To what extent is growth in practice demand supported by lawyer workforce growth?

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Peer Monitor Perspective
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The first half of 2019 should be seen as steady and positive:
demand has grown modestly, outpacing this point last year, and an average worked rate growth of 3.8% is higher than at any mid-year point yet this decade.
“Digging a little deeper – and comparing revenue growth to the pace of team growth – corporate, litigation, real estate, and antitrust practices have all seen lawyer growth rates exceed the overall average rate of lawyer growth in the market. This leaves many of these practice areas well out of balance compared to demand growth for the practice.”

In partnership with Peer Monitor

This article can be found in Briefing‘s October’s edition: Buying signals