Following up on last week's post, The Median Real Income Of Lawyers Has Fallen 1.9% Since 2001:  ABA Journal, Median Lawyer Income Is Dropping, When Adjusted For Inflation, Study Finds:

Lawyers’ median real income has decreased by 1.9% over nearly two decades, according to the study by researchers at the Old Dominion University.

Reuters has the story, while the TaxProf Blog noted the findings. …

The authors attribute part of the decrease in real income to a decline in demand for legal services, according to Reuters. In 2001, legal services made up 0.58% of U.S. gross domestic product. The percentage decreased to 0.28% in 2019.

Reasons for the decrease in demand include automation of legal tasks, an increase in paralegals and a decline in litigation in some practice areas, according to study findings cited by Reuters.