{"id":85021,"date":"2023-01-16T11:51:20","date_gmt":"2023-01-16T16:51:20","guid":{"rendered":"http:\/\/danielschristian.com\/learning-ecosystems\/?p=85021"},"modified":"2023-01-16T11:51:20","modified_gmt":"2023-01-16T16:51:20","slug":"2023-report-on-the-state-of-the-legal-market","status":"publish","type":"post","link":"https:\/\/danielschristian.com\/learning-ecosystems\/2023\/01\/16\/2023-report-on-the-state-of-the-legal-market\/","title":{"rendered":"2023 Report on the State of the Legal Market"},"content":{"rendered":"<p><a href=\"https:\/\/www.legaltechmonitor.com\/2023\/01\/the-2023-report-on-the-state-of-the-legal-market-yup-its-bad\/\" target=\"_blank\" rel=\"nofollow noopener\"><strong>The 2023 Report on the State of the Legal Market \u2014 Yup It\u2019s Bad<\/strong> <\/a>&#8212; from legaltechmonitor.com by Jean O&#8217;Grady<\/p>\n<p>Here are the three key take aways:<\/p>\n<ul>\n<li>Multiple factors threaten profitability, including falling demand and productivity, rising expenses, shifting client outlooks, and inflation<\/li>\n<li>Midsize firms show strength amidst market demand shifts<\/li>\n<li>Profits-per-equity partner down for the first time since 2009<\/li>\n<\/ul>\n<p><a href=\"https:\/\/www.thomsonreuters.com\/en-us\/posts\/legal\/state-of-the-legal-market-2023\/\" target=\"_blank\" rel=\"nofollow noopener\"><strong>2023 Report on the State of the Legal Market: Mixed results and growing uncertainty<\/strong> <\/a>&#8212; from <em>thomsonreuters.com\u00a0<\/em><br \/>\n<em>The new &#8220;2023 Report on the State of the Legal Market&#8221; shows that as legal demand falters and other key metrics remain mixed, uncertainty in 2023 may cloud law firms leaders\u2019 thinking<\/em><\/p>\n<p><em>Excerpt:<\/em><\/p>\n<p style=\"padding-left: 40px;\">In the latter part of 2022 and continuing into the new year, multiple challenges have emerged to threaten law firm profitability, including falling demand and productivity, rising expenses, changing client preferences, and economic turmoil.<\/p>\n<p style=\"padding-left: 40px;\">Indeed, one key metric \u2014 profits-per-equity partner (PPEP) \u2014 is down for the first time since 2009, which occurred during the last global financial crisis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The 2023 Report on the State of the Legal Market \u2014 Yup It\u2019s Bad &#8212; from legaltechmonitor.com by Jean O&#8217;Grady Here are the three key take aways: Multiple factors threaten profitability, including falling demand and productivity, rising expenses, shifting client outlooks, and inflation Midsize firms show strength amidst market demand shifts Profits-per-equity partner down for [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[174,825,837,285,321],"tags":[],"class_list":["post-85021","post","type-post","status-publish","format-standard","hentry","category-career-development","category-law-schools","category-legal-operations","category-legislation-legislatures","category-united-states"],"_links":{"self":[{"href":"https:\/\/danielschristian.com\/learning-ecosystems\/wp-json\/wp\/v2\/posts\/85021","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/danielschristian.com\/learning-ecosystems\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/danielschristian.com\/learning-ecosystems\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/danielschristian.com\/learning-ecosystems\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/danielschristian.com\/learning-ecosystems\/wp-json\/wp\/v2\/comments?post=85021"}],"version-history":[{"count":2,"href":"https:\/\/danielschristian.com\/learning-ecosystems\/wp-json\/wp\/v2\/posts\/85021\/revisions"}],"predecessor-version":[{"id":85023,"href":"https:\/\/danielschristian.com\/learning-ecosystems\/wp-json\/wp\/v2\/posts\/85021\/revisions\/85023"}],"wp:attachment":[{"href":"https:\/\/danielschristian.com\/learning-ecosystems\/wp-json\/wp\/v2\/media?parent=85021"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/danielschristian.com\/learning-ecosystems\/wp-json\/wp\/v2\/categories?post=85021"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/danielschristian.com\/learning-ecosystems\/wp-json\/wp\/v2\/tags?post=85021"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}