Law firms in Australia have weathered softening demand and rising expenses well, with the counter-cyclical practices of dispute resolution, insurance coverage, insurance defense, workplace relations, and insolvency and restructuring providing support, according to a report on the Australian legal market.
In the 2023 financial year—the 12 months to July 2023—law firms in Australia saw demand grow an average of 1.3% from the previous year, according to The 2023 Australia: State of the Legal Market Report by Thomson Reuters. A decline in demand of 3.4% in the first half of the year was offset by a rise of 5.3% in the second half.
