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Links for August 2011
TBA Today staff members were recognized in June by the Tennessee Bar Association House of Delegates, which presented a resolution honoring the work done on the daily electronic newsletter. The resolution, presented by Speaker Claudia Jack during the TBA Annual Convention in Chattanooga, recognized TBA staffers Barry Kolar, Suzanne Robertson, Stacey Shrader and others, including Tanja Trezise, for their work in producing an “invaluable resource” for Tennessee lawyers.
TBA Today is free with TBA membership. Read the resolution athttp://www.tba2.org/tbatoday/news/2011/hodresolutionontbatoday_061511.html
ABA to expand data in law school guide
The American Bar Association (ABA) will add more job and salary data to its official guide of law schools in response to demands for more information about the employment prospects for law school grads. The new data will include statewide salary data for newly hired law school graduates; whether jobs are full or part-time; whether the jobs are funded by the law school or university; and whether jobs require, prefer or do not require a law degree. The new information will be published in the June 2012 guide. The National Jurist has the story.
In related news, U.S. News & World Report said it would probably change its law school ranking methodology to reflect the new information being provided by the ABA. Read more here
Tennessee no exception in nation's 'lawyer surplus'
Tennessee is producing about twice as many lawyers as it has legal jobs each year, putting it at number 19 in annual lawyer surplus, according to a new study by EMSI, a consulting company that focuses on employment data and economic analysis. The job climate for new lawyers is rough partly because of the weak economy, but also partly because the nation's law schools are churning out many more lawyers than the economy needs even in the long run.
In 2009, Tennessee had 735 pass the bar exam, while the Bureau of Labor Statistics and the Census Bureau estimated there were 389 jobs available, for a surplus of 346. Across the country, there were also twice as many people who passed the bar in 2009 (53,508) as there were openings (26,239). There are, however, three places with lawyer shortages: Nebraska, Wisconsin and the District of Columbia.
The New York Times' blog, Economix, explains
New lawyers see salary decline
A study released yesterday by the National Association of Law Placement (NALP) indicates that the median salary for 2010 law school graduates fell by $9,000 from $72,000 to $63,000 over the last year. The average salary for the graduates also dropped from $93,454 to $84,111. NALP's executive director explained the numbers saying "It's not that employers were paying less" but that "fewer recent grads were finding work at the large firms that pay the highest salaries." Read more in the ABA Journal
Malpractice claims up
Law firms and corporations are being hit with significantly more malpractice claims in 2011 than they were in 2010, according to a new survey of insurers that specialize in legal malpractice coverage. The survey -— which covers the first six months of the year — found that real estate practices were the most likely to be sued.