maybe he was thinking of 3 years out from now, as opposed to right now.
Take whatever a Law School Dean says with an industrial sized grain of salt. Question the data. Question the glossy prospectus that's giving you visions of dancing sugar plums. Question the school shills they hire to give the tours. Question, question, question.
They want your money.
Not just USC of course. Be VERY WARY of accruing massive amounts of debt.
And to this:
is it that bad out there still?
short answer: worse than you think. and consider that even three years from now, you'll be competing against other in your class, others in the three classes ahead of you who didn't find (decent) jobs, and the experienced lawyers who were laid off from their cushy jobs and may STILL be scrambling with the rest of the unwashed masses...