What we should do on TLS is work out a "real employment stats" project. Simply assume that all unreported salaries are in their small firm rate and show that the career prospects are really crappy.
The problem is that most of these places don't even give you enough information to figure out what the real employment stats are (even assuming that all unreported salaries are in their small firm rate would be an overstatement). They just give you enough where the typical prospective student believes he is making a good investment. I mean how many people would actually attend a school like hofstra for $50K /year (or whatever it costs) if they mentioned that the 27% "business" is the part of the class that couldn't even find legal jobs and are working in retail, mopping floors at a porn preview joint, etc (which is what "business" actually means)? I think the profession would be a better one in general if the ABA unaccredited 100-150 law schools, and then there would probably still be a sufficient supply of lawyers. I guess the question would just be which ones to unaccredit then out of the 200 -- it surely wouldn't be based on USnews since it doesn't account for regional differences at all (e.g. some states only have tier 3 or lower schools, and then there is NY with schools like Hofstra that make tier 2 somehow).