Demand rises for restructuring & insolvency lawyers as economy falters once more
Law firms are stocking up on restructuring and insolvency lawyers in case there is a double-dip recession. October saw increased demand in this area, particularly for junior to mid-level associates, according to recruiter Badenoch & Clark’s latest report on legal job market trends.
Duncan Ward, Badenoch’s operations director, legal, said: “As the possibility of a double dip recession looms over the UK, firms are seeking to bolster their restructuring and insolvency teams.” The recruiter also notes an uplift in demand for commercial and litigation lawyers in central government, and permanent hires in local government, signalling a thaw in the public sector recruitment freeze.
Technology companies are “ramping up” in-house hires, but there has been a “marked slowdown” in the number of corporate roles due to reduced numbers of IPOs and the slower economy. Ward said: “Many companies who have gone public this year have seen their share price drop, generating nervousness in the market and resulting in a number of potential IPOs being aborted, reducing the need for legal support.”
