lolwut.. 2009 was the depth of the crash wasn't it... confused by your logic here... Though I guess the 2009 stats would be based on 2008 interviewing, and at that point the market maybe wasn't totally tanked (though in 2009 I think a lot of those hires were deferred and then eventually no-offered)... If it was bad in 2009 (and it was very bad as far as I know), then expecting things to get back there or better doesn't seem unreasonable to me..
No, 2009 hiring was based on 2007 interviewing. So the economy hadn't even tanked. 2010 hiring was based on 2008 interviewing -- OCI 2008 took place after the stock market had taken its first big dip but not its final crash (which happened in March 2009). Hence OCI 2009 was the first one that took place when it was clear that the economy was in such bad shape. But a lot of class of 2009 hiring was still based on the summer interviewing that had taken place in 2007 -- they were still mostly honoring their commitments to associates. "Deferrals" and "no-offers" didn't become major buzzwords until the following year, so NYC Law is incorrect on that point.