Firms don't necessarily have a set amount of associates they want from each school, but they want to get a representative sample (i.e. not all Harvard). They also want to maintain relationships with top schools and they spend a lot of money interviewing students, so it wouldn't make sense to then give no offers to Mich students. The big firms consistently call back about the same number of Michigan students each year. Sure that may vary slightly, but a firm like Skadden is absolutely not going to just no-offer Michigan students. (this is coming from a 3L who spent 2 summers at firms and knows plenty of 3Ls going to Skadden). Also I'm not trying to sell you on Michigan--I could care less if anyone comes here. But as a 3L i'm super bored.
Since you are bored, mind telling us what you think of the latest employment stats? As bleak as they seem? Good way to explain them?
I can only speak from personal experience, but of the 30ish people I consider my good friends here, all but two has a job at this point. I know people in my section who didn't get a job through OCI, so fall of 2L felt bleak for some. But those people mass mailed smaller markets or went full-force into PI to find good jobs. I know people who aren't in their preferred market, but I also know a lot more people who settled for a job in a market they didn't love and then hustled to get a better job in their target market. OCP is worthless--even worse than other top schools in my opinion. But Michigan alums are super helpful and make hustling easier.
And I do think the PI preference is a real thing. I would say close to 1/3 of my friends only went the PI route (and some of them were at the top of the class). You don't have to have that good of grades at Michigan to get a good DA/PD job as long as you get some experience in law school.
Ultimately you will get a job regardless of your grades as long as you are strategic, constantly working to get one, realize it's all on you (OCP won't help you), and flexible (i.e. willing to broaden your geographic search).
(And again, I'm a 3L. I don't know enough 2Ls to have an idea of how they are feeling about the job market. Maybe it was harder for them. Except they got the benefit of Michigan bumping up the GPA curve substantially so that seems hard to believe.)