U.S. Fiscal Cliff, Economy, and Law Jobs

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jwinaz
Posts: 179
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U.S. Fiscal Cliff, Economy, and Law Jobs

Postby jwinaz » Tue Jan 01, 2013 12:20 am

The U.S. just went over - at least temporarily - the "fiscal cliff."

I've heard from a friend, who is looking for a non-legal job, that hiring has really frozen the past month or so from very late Nov. through all of Dec., because of the looming fiscal cliff worrries. Employers in both private and federal/state/local sectors are unable to predict how cuts will affect their businesses and institutions.

Do you guys know which sectors of law would be affected by the fiscal cliff? Could there be potentially deep legal cuts? Or, would the impact be negligible?

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WhiteyCakes
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Joined: Mon Mar 05, 2012 2:38 pm

Re: U.S. Fiscal Cliff, Economy, and Law Jobs

Postby WhiteyCakes » Tue Jan 01, 2013 12:25 am

No...no, no, no.

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dr123
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Re: U.S. Fiscal Cliff, Economy, and Law Jobs

Postby dr123 » Tue Jan 01, 2013 12:27 am

None of us have a crystal ball dood

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dingbat
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Re: U.S. Fiscal Cliff, Economy, and Law Jobs

Postby dingbat » Tue Jan 01, 2013 12:32 am

jwinaz wrote:The U.S. just went over - at least temporarily - the "fiscal cliff."

I've heard from a friend, who is looking for a non-legal job, that hiring has really frozen the past month or so from very late Nov. through all of Dec., because of the looming fiscal cliff worrries. Employers in both private and federal/state/local sectors are unable to predict how cuts will affect their businesses and institutions.

Do you guys know which sectors of law would be affected by the fiscal cliff? Could there be potentially deep legal cuts? Or, would the impact be negligible?

simplistic analysis: the fiscal cliff, if it were to happen (which it won't) will cause the economy to slide back into a recession. Stock markets will drop, ibanking will come to a standstill (I knew an MD who had gone 6 months without a single deal in his department a few years back). This means little to no corporate work. Federal government will have automatic budget cuts which means they'll be shedding jobs and there will be no new jobs whatsoever. With less money to go round, there will be less money spent on charities and non-profit ventures, so PI hiring will be minimal. Companies will be downsizing and will be able to pick up experienced attorneys on the cheap, so whatever corporate jobs there are for fresh graduates will dry up.
Litigation might actually go up, but not enough to cover the rest. Basically, anyone not at HYS will be in big trouble

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Nova
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Re: U.S. Fiscal Cliff, Economy, and Law Jobs

Postby Nova » Tue Jan 01, 2013 8:51 am

I consulted the Fiscal Cliff [Huxtable] about your concerns:

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Ohiobumpkin
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Re: U.S. Fiscal Cliff, Economy, and Law Jobs

Postby Ohiobumpkin » Wed Jan 02, 2013 4:45 pm

Nova wrote:I consulted the Fiscal Cliff [Huxtable] about your concerns:

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+Over 9,000.




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