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According to preliminary data released by the U.S. Bureau of Labor Statistics, the legal services sector experienced a setback in January, shedding 4,400 jobs after hitting record highs in November and December.
January Job Losses
In January, the sector had 1,187,800 jobs, a decline from the 1,192,200 jobs recorded in December. Notably, December’s figure was revised upward from the initial report. Despite the setback in January, the December figure and the fixed November number of 1,188,100 jobs surpassed the previous high of 1,187,900 jobs set in July 2022.
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Fluctuating Employment Trends
The sector witnessed a positive trend in employment before January’s decline. It gained 3,100 jobs in November and 4,100 jobs in December. However, this positive momentum was disrupted by the loss of 4,400 jobs in January. It’s important to emphasize that the January and December figures are preliminary and subject to revision.
Basis of Jobs Data
The reported job numbers are based on payroll data for attorneys and staff members employed at law firms providing legal services. These figures are subject to monthly revisions and an annual review process, indicating that fluctuations in employment data are not uncommon.
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