Demand has cooled and expenses have increased
Thomson Reuters has reported that US law firm profitability has continued to decrease after it soared to record high levels in 2021, as has demand cooled and expenses increased following substantial drops during the pandemic.
The Thomson Reuters Law Firm Financial Index (LFFI), powered by Peer Monitor/Financial Insights, has dropped for the fourth quarter in a row, which marks the longest consecutive slide in the history of the index.
The LFFI is a composite index of law firm market performance that uses real-time data drawn from major law firms in the US and key international markets. It trac...
