June 11, 2012
The news for debt-laden law school grads just keeps getting worse.
The Association for Legal Career Professionals announced the employment rate for 2011 graduates at 85.6 percent as of February, the lowest it has been since 1994.
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The rate for graduates joining private practices dipped even lower, coming out at 49.5 percent. That rate hasn't been so low since 1975, according to Constitutional Daily. Around 12.1 percent of the 2011 graduating class is neither working nor pursuing more school.
This recent report doesn't come as a surprise, however. These past graduates had to find their niche in entrepreneurship after being laid off from their jobs back in 2008 and 2009.
Erin Gilmer, who graduated from the University of Colorado, got so poor that she had to go on food stamps. "I have absolutely no credit anymore," she told Business Insider in April. "I haven't been able to pay loans. It's scary, and it's a hard thing to think you’re a lawyer but you’re impoverished. People don’t understand that most lawyers actually aren’t making the big money."
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