The pace of job loss in the United States slowed significantly in November. This according to the Bureau of Labor Statistics’ monthly jobs report that stated that the economy shed only 11,000 jobs in November, the lowest such figure in nearly 2 years. The overall unemployment rate fell to 10 percent, down from 10.2 percent in October. The New York Times has a full analysis of the numbers here.
The all-important question for lawyers – how did the legal services sector fare? Not quite as well as the overall job market. When seasonally adjusted the sector lost 2,900 jobs in November 2009, and the sector has lost a total 41,800 jobs since November 2008. Still, the loss of nearly 3,000 jobs is half the number of jobs shed in October when theBureau of Labor and Statistics reported that legal services providers cut 5,800 positions. That followed a report of 2,000 jobs lost in September.