There are simply way more attorneys than there are attorney jobs. There are too many law schools producing too many attorneys. And, the number of people attending law school just keeps going up.
Law school is scary expensive and most people attend law school by taking out student loans. Your debt could easily be $50,000-$125,000 when you graduate. That is some serious debt at such a young age and no guarantee of a job. Student loan debt is not dischargable in bankruptcy court.
As amazing as it sounds, legal work is yet another industry where some of the work is being outsourced to India. Indians are doing research and document review among other things.
You may be thinking, "Oh, if I can't find a job, I'll just hang a shingle and start my own practice." This is virtually impossible since law school teaches you no practical skills about being a lawyer.
Once you have a JD on your resume, you are doomed to being an attorney. It will be next to impossible for you to get any other job, including a paralegal job, because you will be considered to be over-qualified for anything else. You can't leave your JD off your resume because then you have three years of nothing to explain.
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