Industry in “good health” – Law Society

by Hannah Norton18 Sep 2015
Vacancies for solicitors have increased, while the legal sector overall has increased 6.6 percent annually – earning over $3b.

Solicitors were the fastest growing occupation in the professionals industry, with a 62 per cent increase year-on-year (YOY) till August, according to new figures released by the Ministry of Business, Innovation and Employment.

MBIE’s Jobs Online Monthly Report for August 2015 – which looks at jobs advertised on SEEK, TradeMe Jobs, and the Education Gazette – found the ‘accounting, human resources, legal and administration’ industry showed a YOY increase of 9.5 percent, behind trailblazing sector ‘education and training’ – at 17.4 percent.

Meanwhile, the latest statistics show New Zealand’s legal services industry earns $3.05b annually – an increase of 6.6 percent on the previous year.

“New Zealand’s legal services industry is a small but important part of our economy,” New Zealand Law Society president Chris Moore told NZLawyer.

“While the data reflects the situation a year ago, I am sure our legal services sector has continued to grow.

“New Zealand has an innovative and high-performing legal profession which is able to provide a wide range of services to everyone – whether they are personal transactions such as buying a house, or commercial transactions such as a business acquisition.”

While the overall revenue of the sector was up, so was expenditure – with a total of $1.97b in expenses in the year to 30 June 2014 – up 8.1 percent.

This resulted in a surplus before income tax of $1. 086b.

“A healthy industry is one which grows and the latest figures for the legal sector show it is in very good health,” Moore said.