According to lawyer employment projections for 2022 provided by state governments, there will be an estimated three new lawyers for every position in 2022. In particular, states with the biggest lawyer surplus include North Dakota, Alaska and New Jersey while those with the lowest lawyer surplus are Oklahoma, Delaware and Florida.

Furthermore, despite the decrease in law school applicants by around 5,000 for the most recent academic year, taking into consideration the large amount of graduates last year as well as the slowing rate of decline, it is prudent to assume that the issue of lawyer surpluses will continue to worsen.

See Projected Lawyer Surpluses Worsen: 3 New Lawyers for Every Law Job in 2022, Paul Caron, TaxProf Blog

Posted by Elizabeth Cheung, Associate Editor, Wealth Strategies Journal