Are Law School Grads the Future's Paralegals?

New Geography reports:

According to recent figures, in the United Kingdom paralegals already make up (as a mean average) 44 percent of all fee earners in solicitors firms, and are on track to outnumber solicitors in firms within a decade. In the US, the Bureau of Labor Statistics projects 16.7 percent growth in paralegal jobs between 2012 and 2022, adding 46,200 positions. Jobs for attorneys are expected to grow only about 10 percent during that period.

Before the recent economic downturn, paralegals were either employees looking for further work experience, recent graduates working as paralegals for a short period of time to improve their expertise, or those who specifically wished to pursue a long-term careers as paralegals. Now, a new type of candidate is beginning to emerge: that of the accomplished law graduate who cannot secure a permanent job as a lawyer due to the vast number of suitable candidates. Legal firms are motivated to employ these academically gifted candidates as paralegals, because it means they can get employees who will work diligently for a much lower rate than young lawyers.

The excess supply of lawyers thanks to the subsidy in legal education.