Recent data from the NALP Foundation shows a continued two-year decline in associate attrition rates and hiring levels at law firms. In 2023, the attrition rates experienced another dip, falling from 20% in 2022 to 18%, down from a high of 26% in 2021. This downward trend points towards a gradual return to pre-pandemic attrition levels. Jennifer Mandrey, vice president for research at the NALP Foundation, highlighted the trend, noting that attrition rates had spiked during the pandemic years.
Concurrently, hiring levels, whilst clearly outperforming pre-pandemic numbers, have seen a decrease as well in 2023. While the total of 6,786 hires were tracked in 2022, the figure for 2023 fell to 5,236.
For detailed information, one may read the original report on the decline prepared by the NALP Foundation.