Three years after the ‘recovery summer,’ top law schools are opening law firms in order to ensure that their graduates can find jobs that can pay off the student debt.
From The New York Times:
Over the next few years, 30 graduates will work under seasoned lawyers and be paid for a wide range of services provided at relatively low cost to the people of Phoenix.
The plan is one of a dozen efforts across the country to address two acute — and seemingly contradictory — problems: heavily indebted law graduates with no clients and a vast number of Americans unable to afford a lawyer.
The good news: The economy added 260,000 jobs last month — many more than expected, as the unemployment rate dropped to 7.7 percent. The bad news: even more people (296,00o) stopped looking for jobs; their exit from the labor force also contributed to the drop in the unemployment rate, even though they still don’t have work.
Update: The Washington Examiner’s Rachel Baye reports that “the George Washington University Law School has started paying graduates to work in temporary jobs as more of them can’t find work.” Read the whole thing here.