Legal Vacancies in Private Practice
Traditionally the majority of vacancies for Lawyers in the UK are for private practice roles. However, the past two years saw the proportion of these roles in the Legal job market fall from over 80% in Q2 2015 to just 72% in Q4 2016. The net number of private practice openings also declined. In the same period of time the number of in-house openings in non-legal organisations flat-lined.
This leads to the hypothesis that Brexit-related uncertainty caused law firms to adopt more cautious hiring strategies. Indeed, the bulk of the Legal sector in London is built around the Financial Services industry. If the City loses its status of Europe’s finance capital as a result of Brexit, a significant amount of the law firms’ current work will have to move elsewhere, which implies layoffs and the relocating of employees. If that scenario does come to pass, one would very much expect the hiring patterns of London-based firms to change too.
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Author: Jan Pawlowski