Peer Monitor

PMI Q4 2020 analysis: Lawyer headcount in January 2021 returns to pre-pandemic levels

When the Peer Monitor Index recorded its highest score since 2006 in the fourth quarter of 2020, it showcased the resiliency of traditional law firms…

Isaac Brooks March 04, 2021

State of the Legal Market analysis: Occupancy spend at multiyear lows

Like a massive wave, the insecurity and instability that has marked much of the global business world throughout 2020 is likely to leave a drastically…

Isaac Brooks February 16, 2021

Growing ALSP market becoming less “alternative”, says new report

The market for alternative legal service providers (ALSPs) has become an important and growing part of the legal landscape. ALSPs provide both corporate counsel and…

Thomson Reuters Institute February 11, 2021

Rise in worked rates in 2020 fueled by proportional shifts

There is much evidence that the large law firm market finds itself at a crossroads. Evidence of the approach toward a tipping point was laid…

Joe Blackwood February 08, 2021

PMI hits near-record high in Q4 as law firms show resiliency

Over the course of the global pandemic in 2020, large law firms implemented multiple strategies to address the industry challenges they were experiencing, leading to…

Thomson Reuters Institute February 02, 2021

2021 Report on the State of the Legal Market: An “inflection point” for law firms

The 2021 Report on the State of the Legal Market, issued today by the Center on Ethics and the Legal Profession at Georgetown University Law…

Thomson Reuters Institute January 12, 2021

Year in review: In Q3 2020, lawyer headcount contracted for first time since 2009

Leading up to the release of the “2021 Report on the State of the Legal Market” on January 12, 2021, we will reexamine the tumultuous…

Isaac Brooks January 07, 2021

Year in review: Q2 2020 & the pandemic shutdown

Leading up to the release of the “2021 Report on the State of the Legal Market” on January 12, 2021, we will reexamine the tumultuous…

Joe Blackwood December 23, 2020

A tale of two markets: “It was the best of times, it was the worst of times, …”

The global pandemic has had a measurable effect on all markets across the globe, and the legal industry has been no exception. While the first…

Joe Blackwood December 21, 2020

Year in review: In Q1 2020, a reversal of fortunes

Leading up to the release of the “2021 Report on the State of the Legal Market” on January 12, 2021, we will reexamine the tumultuous…

Isaac Brooks December 17, 2020

PMI Q3 2020 Analysis: Associate reductions impact all facets of the legal market

The large law firm industry regained some footing in the third quarter of this year, despite an environment of low demand, owing to positive factors…

Isaac Brooks December 02, 2020

Amid the pandemic, Big Law gains back some ground, according to Q3 PMI

The large law firm market recovered some ground in the third quarter amid cross-currents of low demand, high rates, and reduced expenses. These competing and…

Thomson Reuters Institute November 09, 2020