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What Is the Recent Evidence on an Excess Supply of Legal Qualifications in Australia?
Author(s) -
Daly Anne
Publication year - 2012
Publication title -
australian economic review
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.308
H-Index - 29
eISSN - 1467-8462
pISSN - 0004-9018
DOI - 10.1111/j.1467-8462.2012.00700.x
Subject(s) - salary , census , supply and demand , demographic economics , economics , labour economics , law , business , political science , sociology , demography , population , macroeconomics
This article considers the Australian evidence on whether there has been an excess supply of law graduates. There is evidence of a strong growth in demand for legal services over the past 15 years. It is also shown that the number graduating from Australian universities with a law degree grew by 3.5‐fold between 1989 and 2007. Evidence on employment rates and starting salaries for law graduates does not suggest that the labour market has been unable to absorb this increase in supply. There is, however, some evidence from the 2006 Census of a decline in the median salary of law graduates.