Recession has not impeded growth of US law firms justasc
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The Sageworks data is based on Census Bureau information covering 191,000 firms with staff and another 256,000 lawyers practising alone. It includes law firms and legal services businesses. The results put the sector amongst the areas showing the highest profits. The sector's average profit margin in the last 12 months is 19.5 per cent. The only areas which showed thicker profit margins are accounting and payroll services as well as oil and gas extraction. 'Law firms typically have larger margins, even during harder times,' Sageworks analyst Brad Schaefer commented in Forbes. 'Between 2008 and 2010, margins barely took a dip.'
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