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Insurer More Than now publishes a useful publication, the Business Inflation Guide. It is not helpful only in the sense that at the present time, the information it provides is pretty gloomy. In the latest report, More Than reports that small business has faced a big hike in inflation, particularly caused by higher fuel prices. The current rate of 3.6% increase for the first quarter of this year was 3 times higher than last year.

There seems to be a real disconnect between the perception of the value of a legal career and qualification from the prospects of becoming a successful lawyer. For some years now, the number of lawyers qualifying has increased exponentially and out of proportion with the numbebr of jobs for solicitors and that was before the recession. Now there are thousands of paralegals in limbo, who have law degrees and many have passed the |Legal Practice course, yet they cannot get a training contract to become solicitors with law firms. Many law firms are struggling and facing unprecedented threats and there are now thousands of unemployed, experienced solicitors. And yer, figures released by Britain’s top universities indicate n increase of 8% in students sitting the National Admissions Test for Law (LNAT).

There is no doubt that a law degree has value, it cvan be useful for many other careers such as business generally, insurance, finance to name but a few areas, but we suspect that many of those who study law want to become lawyers. No doubt many will succeed and become excellent solicitors and have a great career out of it, but a significant number will not and should not think of studying law as a apssport to safe and lucrative career. It;’s simply not the case any more.

The increased interest in law degrees is thought to be a result of the economic climate: students are looking for career-driven degrees that can benefit them in the long run. Christopher Boulle, director of LNAT, said: ‘It’s quite surprising to see such a clear increase in demand for places from the same period last year, given that applications to university have fallen. We can only assume that students are looking to invest in more career-focused degrees than in the past. Although the journey to becoming a lawyer is an expensive one, the long term earning potential is high and it seems that students are taking a more long-term approach to their careers.’