Tuesday, June 4, 2013

Indiana Seventh Worst State for Law School Graduates Seeking Jobs

The Atlantic has an interesting story on the law school glut:
By now, even law schools themselves acknowledge that they've been churning out too many graduates for too few available jobs. Less widely appreciated, however, is that the lawyer glut appears to be much more severe in some parts of the country than in others. There's nowhere in the United States that new JD's have it especially good; but, man, are there spots where they have it especially bad.

New Indiana Tech Law School
That important lesson comes courtesy attorney Matt Leichter, proprietor of the blog Law School Tuition Bubble, who's done the hard work of calculating which states have the largest oversupply of JD's. Nationwide in 2011 (I know, I wish the data didn't run so far behind too), Leichter finds that law schools graduated roughly two students for every one estimated job opening. But there were some enormous variations. In Mississippi, the ratio was 10.53 to 1. In Michigan, it was 6.48 to 1. In New Jersey, by comparison, it was just 1.04 to 1. 

And yes, even in America's wired up, nationally integrated economy, this is a matter of concern. That's because law is in many ways still a geographically bound profession. Lawyers are required to pass a state bar in order to practice. And for a variety of reasons, professional recruiting tends to be regionalized. There are a few schools -- Harvard, Yale, Stanford, etc. -- with a truly national reach. But most programs, even good ones, are lot more like the University of Minnesota Law School. It's a fine, well-regarded institution -- but at least 61 percent of its alums go to work within state.
The article then proceeds to discuss Mr. Leichter's methodology.  While his work is laudatory, frankly he is taking a very conservative approach to the numbers. Actually the glut is much, much worse.  Still it's helpful in terms of comparing the job market from one state to another:
Now, before I give you the state data, let's talk briefly about how Leichter compiles it (trust me, this is important). The number of grads per state come from the American Bar Association. That's straightforward enough. However, he draws his an annual estimate of legal job openings -- which include entirely new jobs as well as positions that open up thanks to retirements and departures-- from 10-year projects by state agencies and the Bureau of Labor Statistics. That means these these figures are, in the end, just estimates. In some respects, they probably veer on side of optimism, since these projections have previously tended to overestimate future job openings. That said, with law school enrollments falling, there's a chance the situation could improve a bit in the coming years. 
Where does Indiana rank?  Indiana is the seventh worst states with more than 3 graduates for every job opening.  Good thing we have another law school coming on line in a year or so.
THE LAW GRAD GLUT: Ratio of graduates from ABA approved law schools to the average annual number of job openings between 2010 and 2020, ranked from worst to best. (Source: Law School Tuition Bubble. Note: complete data not available for Tennessee)

StateLaw Grads Per Legal Job OpeningRank
Michigan 6.482
New York2.9210
Rhode Island2.6313
New Hampshire2.4516
North Carolina2.4417
South Carolina2.0922
North Dakota2.0324
West Virginia1.5632
New Mexico1.5134
District of Columbia1.4837
South Dakota1.3840
New Jersey1.0447
Thanks to Attorney Mark Rutherford for finding this article and posting it on Facebook.


Unigov said...

Further evidence that too many people go to college. The ratios would be far worse for English majors, compared to jobs for which English is the most appropriate major.

"Common wisdom" is that the US has a shortage of scientists - people with degrees in chemistry, physics, etc. But those fields are crowded too. The US churns out a few thousand phd's in hard science every year, but the economy doesn't need that many. One report said that there's only a few dozen phd's that graduate every year that are actually capable of advancing science.

Some time ago a friend of mine got a BS in Chemistry from Depauw. That's a hard science degree from a prestigious school. The only job she could get was "lab grunt" - running tests from a cookbook, cleaning things, etc.

Unigov said...

Darn it, I meant to add that the current job market for radiology techs is ... well, there is no market for radiology techs. What was a 'hot' career path 10-20 years ago is a joke, now.

Paul K. Ogden said...

Unigov, I completely agree. I get tired of those people who insist that people today can't compete in the job market without a college degree or even an advanced degree. Often by getting that education what they're doing is pricing themselves out of the job market. Then you have the problem that many graduate with enormous debt.