Briefing Database: September 2019
Briefing will be having a regular brief rummage in Peer Monitor’s legal business ‘basket’ to pick out some of its most telling benchmark data pieces. Where do they point for market trends and law firm management?
This month, how did the Peer Monitor index find global US-based law firm productivity fared in the second quarter (April to June) 2019?
And which practice areas were most in demand, compared to the same quarter in 2018?
Peer Monitor Perspective
“For US law firms, second quarter results can be summarised as ‘two steps forward, one step back.’ Demand has recovered from a weak start to the year, and rates continue to climb. However, productivity is dropping, as firms have quickly reverted into hiring mode, while demand does not appear to be keeping pace. Expenses are also creeping up. None of these factors are reaching alarming levels by themselves, but taken together they may be gradually eroding profitability, and will no doubt be on the minds of firms as they look ahead towards the remainder of 2019.
In partnership with Peer Monitor