Confirmed: America has too many lawyers

The students might be litigious—no surprise there—and overwrought. But they’ve got a point. The demand for lawyers has fallen off a cliff, both due to the short-term crisis of the recession and long-term changes to the industry, and is only starting to rebound. The lawyers that do have jobs are making less than they used to. At the same time, universities seeking revenue have tacked on law schools, minting more lawyers every year…

The job market for lawyers is terrible, full stop—and that hits young lawyers, without professional track records and in need of training, worst. Though the National Association for Law Placement, an industry nonprofit group, reports that employment for the class of 2009 was 88.3 percent, about a quarter of those jobs were temporary gigs, without the salaries needed by most new lawyers to pay off crushing debts. Another 10 percent were part-time. And thousands of jobs were actually fellowships or grants provided by the new lawyers’ law schools…

At the same time, the law schools—the supply side of the equation—have not stopped growing. Law schools awarded 43,588 J.D.s last year, up 11.5 percent since 2000, though there was technically negative demand for lawyers. And the American Bar Association’s list of approved law schools now numbers 200, an increase of 9 percent in the last decade.