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Law Job Slowdown in the US, Brexit Legal Job Worries . . But Aussie Lawyers Are Doing Well

Law Job Slowdown in the US, Brexit Legal Job Worries . . But Aussie Lawyers Are Doing Well

Legal jobs in the US are sliding for the second month despite a record 8-year streak of job growth. And Brexit fears look like shedding legal jobs in the UK as well.

The US figures come form the Labor Department and their monthly look at the U.S. employment situation across a various sectors.

The department’s Bureau of Labor Statistics reported that in August, an estimated 1,135,300 people worked in legal services, including not only lawyers but also paralegals, legal secretaries and others.

The August report marks a decline from July, when 1,136,800 people worked in the legal industry, according to Friday’s jobs report.

Since December 2016, the legal industry has generally employed between 1.13 million and 1.14 million people, according to historical BLS data.

UK Slowdown Pending - Maybe. This comes at a time when the UK legal market is also looking tough with signs showing that the U.K. legal sector could suffer a £3 billion ($3.87 billion) revenue loss and also lose up to 12,000 jobs by 2025 if there is a Brexit 'no deal' situation.

This forecast comes from a new study released by the Law Society, an independent professional association that represents and governs solicitors in England and Wales.

Meanwhile . . DownUnder. A survey of the Australian jobs market has put some legal jobs among the highest paying with four legal job-types making the top 20 for this year, including -

“Generalists – In-house” lawyers, who were the highest ranked for the legal industry at number five on the list, pulling an average salary of $AUD128,988.

This ranked lawyers behind the first-placed information and communication technology architects (at $AUD138,144), followed by managers in the engineering ($AUD138,144), information and communication technology ($AUD132,307), and mining, resources and energy ($AUD131,462) sectors.

Construction lawyers cam in at 11th place, with a reported salary averaging $AUD124,041, placing them behind accountants, construction managers, project managers, and superannuation and insurance managers.

Corporate and commercial lawyers and tax lawyers rounded out the top 20, at 19th and 20th place respectively. Corporate and commercial lawyers reportedly earn $AUD118,558 on average while their tax counterparts earn just under this at $AUD118,212.