WebDec 16, 2024 · Law firm trends and outlook key takeaways. Law firms are still struggling with the tight labor market and the high cost of labor. Demand for law firms’ services has declined. Law firms are witnessing a decrease in productivity. The sentiment among law executives in 2024 is drastically different from 2024, which was one of the most profitable … WebMay 2, 2024 · Turnover in law firms, especially with young lawyers, is at its highest level ever. Nothing law firms have done to date has reversed this trend and the damage to firms is almost unfathomable. Thanks to turnover, the top 400 law firms lose roughly $9.1 billion annually, according to a report by JD Match and Right Profile.
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