Lawyers, Insurance Industry Professionals, and Accountants: What Do These People Have In Common?

There will never be a shortage of lawyers.  It’s just a byproduct of a hyper-litigious society.  Even during the world’s most massive recession in nearly two generations, lawyers and legal assistants are in demand.  As companies are looking to squeeze every last penny out of a contract or begin to really audit and go through their payroll and books with a fine-tooth comb, lawyers will be standing shoulder-to-shoulder, ready to jump into the fray at a moment’s notice.  Even as the government expands, more and more lawyers are needed to settle more frequent disputes between businesses, the government, and individuals.

The basic growth of the population and of businesses and business transactions, legal transactions, and disputes occurs at a rate parallel to the growth of the economy.  So for the lean years, there may be a decent amount of competition, especially between self employed attorneys, which make up about a quarter of the number of lawyers practicing in the US, according to the Bureau of Labor Statistics site.  This is yet another occupation that will always be in demand, but small fluctuations in the job market are to be expected.

Insurance is, as of recently, a very hot button issue for many Americans.  The great health insurance reform debate as been carrying on since before Obama’s election.  In 1994 it was at the forefront of the news media’s attempt to shed light on the matter, and the topic gained worldwide attention.  There are other types of insurance however, not just health insurance.  And according to the BLS, jobs in the insurance sector will rise steadily along with the economy.  There is always a need for insurance, and even in a recession, this industry is thriving.  The eventual automation of much of the industry will continue to push jobs out of the sector, but just like lawyers, insurance agents, underwriters, and administrative workers will always be at a reasonably high level of demand in the US.

Another interesting job sector is accounting.  Book keeping is likely to be at the cutting edge of many companies’ shift toward efficiency and accuracy.  It is no surprise that just like lawyers and insurance agents, underwriters, and those that work in the insurance industry, accountants will likely always have a place in our society.  The number of independent accountants has grown, as has the number of independent auditors.  The BLS expects a rise in the number of accountants and auditors, especially since the government is now tied up in a stimulus plan that needs plenty of oversight.  When the government grows, this job sector grows as well.

Lawyers, insurance underwriters and industry professionals, as well as accountants and auditors all have a fairly secure outlook when it comes to employment demand over the next decade.  All societies require these occupations to run efficiently.  Public records will always need to be kept, businesses and individuals will always have disputes to settle, and the insurance industry has done nothing but grow nearly exponentially as the years have gone by.