Formerly Frothy Job Market Is Cooling For The Class of 2024

American Lawyer, Formerly Frothy Job Market Cooling For Class of 2024:

One year after graduating law school, members of the class of 2023 are doing quite well for themselves, thanks largely to the tail end of the talent frenzy at law firms.

However, the class of 2024 is unlikely to be so fortunate, according to a recent report from the National Association for Law Placement on the class of 2023’s employment situation one year post-graduation.

“The final tailwinds of the talent wars lingered just long enough to propel the Class of 2023 to some of the most incredible employment outcomes NALP has ever recorded before completely dissipating and leaving their more junior peers to experience one of the most difficult summer associate recruiting cycles since the Great Recession,” NALP Executive Director Nikia Gray said in the report.

Reuters, Good Times Won’t Last for Law Grads, Warns Job Tracking Group:

New law school graduates crushed the entry-level job market in 2023, posting record high employment rates and salaries, according to just-published data from the National Association for Law Placement.

But subsequent classes are unlikely to repeat those strong numbers, NALP officials warned last week. The red-hot market for lawyer talent in 2022 and early 2023 has already cooled, NALP noted, and recent data shows law firms have dialed back new associate recruiting.

“The Class of 2023 graduates are likely to be the final benefactors of the talent wars," said NALP Executive Director Nikia Gray in a report released Thursday.

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