{"id":6112,"date":"2021-09-22T19:02:17","date_gmt":"2021-09-22T08:02:17","guid":{"rendered":"https:\/\/insight.thomsonreuters.com.au\/legal\/?post_type=insight_resource&#038;p=6112"},"modified":"2021-10-12T11:27:13","modified_gmt":"2021-10-12T00:27:13","slug":"2021-australian-legal-market-infographic-climbing-through-the-storm","status":"publish","type":"insight_resource","link":"https:\/\/insight.thomsonreuters.com.au\/legal\/resources\/resource\/2021-australian-legal-market-infographic-climbing-through-the-storm","title":{"rendered":"2021 Australian Legal Market Infographic: Climbing Through the Storm"},"content":{"rendered":"\n<h4 class=\"wp-block-heading\">In FY 2021, the Australian legal industry flew through a turbulent storm of economic conditions that included intense shifts in customer demand and an ever-evolving public health environment. Through it all, Australian law firms have had to maintain an unusually intense command of their operations.<\/h4>\n\n\n\n<p>The <a href=\"https:\/\/insight.thomsonreuters.com.au\/legal\/resources\/resource\/2021-australia-state-of-the-legal-market-report\"><em>2021 Australia: State of the Legal Market<\/em><\/a> thoroughly explored the adverse conditions that have defined the latest fiscal year. Using in-depth metric analysis and client satisfaction surveys, the report closely examines how the market has not only survived the storm but emerged from the clouds flying high even as it faces new challenges such as the ongoing war for talent.<\/p>\n\n\n\n<p>Today, the Thomson Reuters Institute adds its <a href=\"http:\/\/app.connect.thomsonreuters.com.au\/e\/er?s=2141361505&amp;lid=7696&amp;elq=~~eloqua..type--emailfield..syntax--recipientid..encodeFor--url~~\" target=\"_blank\" rel=\"noreferrer noopener\">Australian legal market infographic<\/a> to this analysis which provides a brief overview of the state of the market, the forces pushing it forward, and what may be holding it back from reaching even greater heights.<\/p>\n\n\n\n<p>For example, we see how after a rough FY 2020, law firms\u2019 regulatory practice sprung back into action, further powering growth seen in mergers &amp; acquisitions, banking &amp; finance, and general corporate work. The results showed an overall 2.2% increase in legal demand that combined with expense reductions, resulted in a dramatic increase in profitability.<\/p>\n\n\n\n<p>The <a href=\"http:\/\/app.connect.thomsonreuters.com.au\/e\/er?s=2141361505&amp;lid=7696&amp;elq=~~eloqua..type--emailfield..syntax--recipientid..encodeFor--url~~\" target=\"_blank\" rel=\"noreferrer noopener\">infographic<\/a> offers a quick snapshot of the Australian legal market\u2019s conditions and the story which defined the past fiscal year, as well as the perfect launch point to begin to understand the country\u2019s 2021 legal environment.<\/p>\n\n\n\n<figure class=\"wp-block-pullquote\"><blockquote><p>Access the full infographic <a href=\"http:\/\/app.connect.thomsonreuters.com.au\/e\/er?s=2141361505&amp;lid=7696&amp;elq=~~eloqua..type--emailfield..syntax--recipientid..encodeFor--url~~\">here<\/a> for a visual take on the nuanced Australian legal market.<\/p><\/blockquote><\/figure>\n\n\n\n<p><em>This article and infographic was originally featured on the <a href=\"https:\/\/www.thomsonreuters.com\/en-us\/posts\/legal\/infographic-australian-legal-market\/\">Thomson Reuters Institute<\/a> and has been republished here with full permission. <\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The informative graphic provides a brief overview of the state of the market and the forces pushing it forward.<\/p>\n","protected":false},"author":152,"featured_media":6156,"template":"","categories":[641,602,646,609,625],"tags":[70,117,353,440],"resource_type":[600],"insight_job_role":[],"insight_practice_area":[],"class_list":["entry","author-legalexecutiveinstitute1","has-excerpt","post-6112","insight_resource","type-insight_resource","status-publish","has-post-thumbnail","category-benchmarking","category-innovation-and-technology","category-legal-commentary-and-opinion","category-legal-technology","category-research-and-know-how","tag-billable-hours","tag-client-service","tag-legal-service-delivery","tag-profitability","resource_type-infographic","hentry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - 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