A new law school. Just what Texas needs?

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Heads up, Texas!  Dallas will soon have a new law school.  Termed as “opening a public law school at the right time in the right place,” the University of North Texas at Dallas College of Law is scheduled to open August 2014.  With this, a few thoughts came to mind.

A recent study said this of attorney employment rates:

Drawing on data from the U.S. Bureau of Labor Statistics, the Thomas M. Cooley Law School today announced preliminary results from a ten-year study of employment in the legal profession, showing that lawyers had among the lowest unemployment rates of all management and professional occupations in 2010.

According to 2010 data reported in the U.S. Bureau of Labor Statistics Current Population Survey, the national unemployment rate was 9.6% for all occupations, while the unemployment rate for lawyers was 1.5%. The vast majority of management and professional occupations had higher unemployment rates, and many had unemployment rates that were much higher, for example:

• Astronomers and physicists had double the unemployment rate of lawyers;
• Computer software engineers and accountants had more than triple the lawyer rate;
• Environmental engineers had more than four times the lawyer rate;
• News analysts, reporters, and commentators had more than five times the lawyer rate;
• Advertising and promotion managers had nearly six times the lawyer rate; and
• Architects had nearly seven times the lawyer rate.

Among the ten categories of management and professional occupations established by the Bureau, legal occupations had a combined unemployment rate of 2.7%, the second-lowest rate. Health care and technical occupations topped the list with a slightly lower combined rate of 2.5%.

Read more.

Attribution:

Study Shows Lawyers Have One of the Highest Employment Rates of All Professional Occupations
August 11, 2011
Thomas M. Cooley Law School
http://www.cooley.edu/newsevents/2011/081111_lawyer_employment_rates_high.html

Meanwhile, other non-marketers of legal industry educational services sources (i.e., not law schools) aren’t seeming to find quite the same opportunity environment.  Economic Modeling Specialists Inc. (EMSI), a consulting firm specializing in economic analysis and employment data, released this info in June 2011.

For a while now, major media outlets — and a legion of bloggers — have reminded us that the job market for lawyers is lousy. Some law schools, in light of the dimming employment prospects for graduates, have resorted to grade inflation and other methods to, as The New York Times noted, “rescue their students from the tough economic climate — and perhaps more to the point, to protect their own reputations and rankings.”

Just how bad is the job outlook for lawyers? According to our quick analysis, every state but Wisconsin, Washington, D.C., and Nebraska produced more — in some cases, far more — bar exam passers in 2009 than the estimated yearly openings for lawyers in those states. The same glut holds true when comparing law school grads, via IPEDS from the National Center for Education Statistics, to the same opening estimates. 1 And when you take into account nuances with the D.C. bar and how Wisconsin operates (see more below), there might not be any states with a shortage.

Read more.

Attribution:

Data Spotlight: New Lawyers Glutting the Market (Updated)
June 22, 2011
EMSI Blog
http://www.economicmodeling.com/2011/06/22/new-lawyers-glutting-the-market-in-all-but-3-states/

The EMSI data was highlighted in a New York Times’ Economix blog that additionally observed:  “We’ve written before about the tough job market for recent law-school graduates. The climate is hard 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.”

A Boston Business Journal article echoed the same sentiment.  For Estate of Denial® readers experienced in or at least understanding the contrived nature of many legal actions (including probate!), a “red flag” waves strongly with this quote from Christine Netski, the co-chair of a Boston Bar Association task force (bolding added for emphasis):

“The difficult market facing new law graduates appears unlikely to improve in the near term, particularly in the ‘big law’ sector where many people entering law school had hoped to land,” said Netski, in a statement. “But the BBA is well-positioned to assist new grads and lawyers in transition in developing the entrepreneurial skills that are essential to building a sustainable and fulfilling career as a solo or small firm practitioner.

We are strong believers in entrepreneurialism and economic freedom.  Neither of these principals, however, should ever be perverted to encourage the creation of new income generation streams by corporatizing estate looting and other abusive probate practices into a growth industry business activity to fulfill self-serving goals of an individual lawyer or small firm.

And such a threat becomes additionally of concern when other sources indicate estate planning sectors of the legal industry are experiencing billing pressures.

The new law school is described as “the only public law school in North Texas, and will provide the region with an affordable alternative to private law schools, attracting a high percentage of minority students and easing the debt on all students, as they embark on their legal careers.”

Easing the debt?  Maybe for students, but this will be nothing more than a new financial burden if you’re a Texas taxpayer – or a future Texas taxpayer!  And student debt is an overwhelming issue which thankfully some students understand and are working to educate their peers.

With significant probate abuse perspective, maybe we can offer ourselves for a visiting lecture series – think there would be any interest in “Surviving Probate Abuse:  A Target’s Perspective on the Legal Industry and Its Love of Looting Liberty, Estates”?

If nothing else, stay tuned as we keep “shining light on the dark side of estate management” and its surrounding culture of corruption.

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