If you are a practicing lawyer then the future is looking bright. According to a recent survey, 3,280 Australian legal practice employers and discovered that 30.9% intended to take on more staff over the second quarter of 2015.
The rise in demand for lawyers has been increasing since 2012 (after a rather flat period of employment growth in the sector previously) and it has something to do with the resources boom slow-down.
Thanks to ongoing construction and property growth, coupled with changes to the state’s legal and financial services NSW is planning on upping their legal practitioner numbers by 19.7%, while Victoria would like to employ another 21.9%.
So What Are the Current Stats?
Solicitors
The Government’s Job Outlook website confirms employment growth for solicitors/lawyers will be above average and growing strongly up until at least 2018, whereas unemployment is below average.
68% of solicitors hold a Bachelor’s Degree.
It is a very large occupation and most positions (87.1%) in full time roles.
Solicitors work an average of 44.9 hours.
Earnings are super high, in the 9th decile, about $1600 per week, full-time.
Barristers
Barristers will not be so lucky. Employment growth is projected to be low until 2018, as it is a very small occupation, meaning in some regions job prospects will be non-existent.
100% of barristers have attained a Bachelor’s degree.
On the upside, 94% of barristers enjoy fulltime work.
Barristers work an average of 51.1 hours.
Earnings are also very high, in the 9th decile, around $1571 per week, full-time.
So it seems for lawyers/solicitors at least job growth is looking rosy, and why shouldn’t it? Law is a sector which is indispensable world-wide and will always remain integral to the fabric of a cohesive society. As the future brings changes to industries from the inside out, we will see new laws and regulations dreamed up to cover all the new worlds of possibilities technology exposes us to.
For example, a whole new raft of laws will be designed when driverless cars roll off the production line en-mass and this will only be the beginning of a plethora of new laws to govern automation and technology. The legal profession is one sector which will always need people to run it, so if you are thinking about a stable career that has a future tomorrow, the law field may be right up your ally if you are so inclined.