Scott Alderton was recently quoted in a San Fernando Valley Business Journal article examining the outlook for the legal market in the Los Angeles area as the economy slows down. The recent change in economic factors has led to layoffs by many firms, creating a more competitive labor market compared to what it just was months prior.
One noted trend in the profession is a steady growth in lateral partner moves. Scott explained, “We aren’t currently hiring, but I’m seeing from headhunters and recruiters many resumes from junior and even senior lawyers.” He continued to add, “I would say there is still a substantial demand for partners, particularly any partner with a meaningful book of business. Most firms are trying to consolidate and grow so I would say there’s still a high demand for quality partners.”
Scott continued to explain that the competition for associates four to five months ago was critical, and this current pullback is an evolutionary process. He added, “I think that was generally true not only in our market but across the United States.”
