This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Recession Causing Lawyer Layoffs At Big Firms

For some Americans, there's not much sympathy for lawyers who are suddenly jobless.

They make more money than the Average Joe, with the nation's million-or-so employed lawyers averaging $118,280 in 2007, or $56.87 an hour, according to the Labor Department's Bureau of Labor Statistics.

And the number of out-of-work lawyers is minuscule compared with the manufacturing sector, which had 945,000 unemployed workers last year, or the construction industry, which saw more than 1 million jobs disappear in 2008.

But those careers don't require four years of college plus a degree from a law school that costs about $70,000 to attend.

"My computer is about to die with the amount of resumes I've sent out," said Tim Brown, 32, of Alexandria, Va.

Brown was laid off from his job working on franchise law for the National Auto Dealers Association on March 26 and has sent out hundreds of resumes. The response?

"'We've received your resume. Thank you very much,'" said Brown, who made April's loan payment but is concerned about May.
3 of 6

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $111.31 0.00%
FB $92.80 0.00%
GOOG $645.44 0.00%
TSLA $241.46 0.00%
YHOO $30.96 0.00%


Chart of I:DJI
DOW 16,790.19 +13.76 0.08%
S&P 500 1,979.92 -7.13 -0.36%
NASDAQ 4,748.3610 -32.9030 -0.69%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs