It’s common knowledge that America has more lawyers than any other country in the world. In April 2011, there were over 1.2 million licensed attorneys in the United States, more than one for every 300 people. Not surprisingly, this large population of lawyers had led to the over saturation of the job market in virtually every legal specialty from personal injury litigation to tax law. Because of the law of supply and demand, this is generally a good thing for American consumers: higher supply of legal services results in lower prices. However, this development is not such a good thing for aspiring lawyers who want to make a good living at their chosen profession. Are there any fields of law that are not over saturated? Here are three different options to consider. Look at Lexington Law ratings and reviews for more ideas.
Individual Financial Counseling and Negotiation
The ongoing recession and high unemployment rates mean that many people and families cannot keep up with their financial obligations, which include their monthly debt payments, medical bills and mortgage. Attorneys who can provide advice on modifying or restructuring obligations will be in great demand. Because credit scores and accurate credit reporting are so important to our financial lives, having the skill to review and repair people’s credit report is an important skill. In addition, the recent passage of federal legislation that created the Consumer Financial Protection Bureau also gave numerous new rights to consumers that will take experienced consumer finance attorneys to interpret and apply for the benefit of their clients.
This is another area of practice that thrives during recessions. When economic times get difficult, people and businesses are more likely to file lawsuits in both state and federal courts to either to recoup financial losses or postpone the payment of debts. Civil litigation can be extremely complicated and time-consuming and large cases can take a team of lawyers, paralegals and other support personnel (such as investigators) to successfully pursue.
Continuing government and social emphasis on environmental issues like renewable energy, managing the depletion of the ozone layer and using zero- and low-emissions technology has put environmental lawyers in great demand. The current boom in the gas industry, for example, has created great opportunities for skilled environmental attorneys as the energy companies seek to expand while remaining compliant with the numerous local, state and federal environmental regulations.