Employment for paralegals and legal assistants is projected to grow much faster than average for all occupations through 2014. Employers are trying to reduce costs and increase the availability and efficiency of legal services by hiring paralegals to perform tasks formerly carried out by lawyers. Besides new jobs created by employment growth, additional job openings will arise as people leave the occupation. Despite projections of rapid employment growth, competition for jobs should continue as many people seek to go into this profession; however, experienced, formally trained paralegals should have the best employment opportunities.
Private law firms will continue to be the largest employers of paralegals, but a growing array of other organizations, such as corporate legal departments, insurance companies, real estate and title insurance firms, and banks hire paralegals. Corporations in particular are boosting their in-house legal departments to cut costs. Demand for paralegals also is expected to grow as an expanding population increasingly requires legal services, especially in areas such as intellectual property, health care, international law, elder issues, criminal law, and environmental law. Paralegals who specialize in areas such as real estate, bankruptcy, medical malpractice, and product liability should have ample employment opportunities. The growth of prepaid legal plans also should contribute to the demand for legal services. Paralegal employment is expected to increase as organizations presently employing paralegals assign them a growing range of tasks and as paralegals are increasingly employed in small and medium-size establishments. A growing number of experienced paralegals are expected to establish their own businesses.
Job opportunities for paralegals will expand in the public sector as well. Community legal-service programs, which provide assistance to the poor, elderly, minorities, and middle-income families, will employ additional paralegals to minimize expenses and serve the most people. Federal, State, and local government agencies, consumer organizations, and the courts also should continue to hire paralegals in increasing numbers.
To a limited extent, paralegal jobs are affected by the business cycle. During recessions, demand declines for some discretionary legal services, such as planning estates, drafting wills, and handling real estate transactions. Corporations are less inclined to initiate certain types of litigation when falling sales and profits lead to fiscal belt tightening. As a result, full-time paralegals employed in offices adversely affected by a recession may be laid off or have their work hours reduced. However, during recessions, corporations and individuals are more likely to face other problems that require legal assistance, such as bankruptcies, foreclosures, and divorces. Paralegals, who provide many of the same legal services as lawyers at a lower cost, tend to fare relatively better in difficult economic conditions.