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Ed. note: Welcome to our daily feature, Quote of the Day.
We knew the pendulum would start to swing back after we set low tide marks the last couple of quarters.
— William Josten, manager for enterprise legal content at the Thomson Reuters Institute, in comments given to Reuters, on the results of the latest Law Firm Financial Index, which tracks key financial metrics across large and midsize law firms. The LFFI rose 14 points in 2023’s first quarter, the first increase since the second quarter of 2021, with demand up by 0.1%, while rates surged by ~5.5%.
Staci Zaretsky is a senior editor at Above the Law, where she’s worked since 2011. She’d love to hear from you, so please feel free to email her with any tips, questions, comments, or critiques. You can follow her on Twitter or connect with her on LinkedIn.
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