
Image by Getty Images via @daylife
The projected outlook for paralegal jobs is excellent for the next decade. However, despite this projection of more jobs, there is also an increase in the number of individuals searching for these jobs. As in many other careers, having experience will help paralegal in the job market.
Surveys are projecting that there will be a growth in employment for paralegals and legal assistants. This growth is projected to be twenty-eight percent (28%) between the years of 2008 and 2018. Fostering this growth is the fact that employers are looking to reduce costs for themselves and their clients and hiring paralegals instead of associate attorneys.
Additionally, the demand for paralegals is expected to grow because of the growth in population. Obviously, with more people on the planet there will be an ever-increasing for legal services; especially paralegal services.
Who Will Hire Paralegals?
Law firms are the biggest employers of paralegals and will continue to be going forward. As other groups, such as corporations and title companies, look to cut costs, they will expand their in house legal divisions, which will mean hiring more paralegal.
The new opportunities in the paralegal field will also be fueled by the retirement of legal assistants and paralegals. Specialization will be a big key to the success of paralegals in the market for a job. The best areas of law to specialize in will be real estate, bankruptcy, medical malpractice, and product liability. Training will also be important for those looking for paralegal jobs.
Are Paralegal Jobs Affected By The Recession?
The legal field, like any other area, is affected by the recession because potential clients will be more selective about how they spend their discretionary income. To that extent, paralegal jobs can also be affected in certain areas of practice. Those affected areas are estate planning, will preparation and real estate transactions.
Conversely, there are some areas of law that thrive in a recession such as bankruptcy law and foreclosures. In these practice areas, paralegal jobs will be safe and will even increase.
Overall, the number of paralegal jobs will enjoy a time of growth, making it a great time to become a paralegal.