10 July 2012 0 Comments

Student Loan Bubble Part 7: Law School Grads Indentured Servants to the Government

TaxProf Blog is edited by a law school professor, Paul L. Caron, University of San Diego School of Law. (Very professorial judging from his blog photo.) Professor Caron presents a video by an equally professorial law school professor Paul Campos, University of Colorado Law School. In this video from Bloomberg Bloomberg: Law Grads Are Now ‘Indentured Servants’ to the U.S Government 13 June 2012

 

 

 

 

 

 

 

WE ARE EATING OUR YOUNG PEOPLE’S FINANCIAL FUTURE

Two out of three 2011 law school graduates did not get real legal jobs   Paul Campos

” NALP has released preliminary employment statistics for the class of 2011 nine months after graduation. They are terrible yet unfortunately not surprising.

12% of 2011 graduates were completely unemployed in February 2012, and another three per cent had re-enrolled in further graduate study, which can be treated as the functional equivalent to post-law school unemployment. So the first takeaway from these numbers is the nearly 15% unemployment rate for people who got law degrees from ABA-accredited schools last year. This figure compared with an 8.2% overall national unemployment rate, which to my surprise is also the unemployment rate among 25 to 34 year-olds (see Table A-10). So we can infer that getting a law degree effectively doubles the risk that a young adult will be unemployed nine months after receiving it. READ MORE June 8, 2012 Paul Campos  Lawyer’s Guns and Money PAUL CAMPOS

 

 

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