The number of persons employed in the legal services sector in the UK has shown a fluctuating trend over the past decade. From 2013 to 2016, there was significant volatility with a notable peak in 2016, followed by a drop in employment in 2017. Since 2018, the number of employees has stabilized, showing modest year-on-year growth. As of 2023, the employment stood at 351.45 thousand persons. From 2020 to 2023, the sector experienced minimal growth with an average year-on-year increase of approximately 0.43%. The last five years show a weak Compound Annual Growth Rate (CAGR) of around 0.2%, indicating a stable yet slow growth pattern.
Looking ahead, forecasted data suggests a continuation of this moderate growth trend. By 2028, employment in the legal services sector is expected to reach approximately 358.35 thousand persons, marking a forecasted 5-year CAGR of 0.31%. This indicates a steady but slow upward trend in employment numbers.
Future trends to watch for include:
- Technological advancements and automation which may impact staffing needs.
- Potential regulatory changes that could affect the demand for legal professionals.
- Economic factors that might influence corporate legal spending.
- The influence of remote working trends on employment in legal services.
