Inflation has risen significantly in cities all across the United States. This leaves many local legal professionals to worry and wonder about the state of the legal market in 2023. This review discusses how the New Orleans legal market looks in 2023.
Home-field advantage is still a major factor
The fact is, if you are a good lawyer with a strong resume, then there are likely opportunities for you in whichever city you choose. However, many practicing lawyers in New Orleans have noted that finding employment in the New Orleans legal field is significantly less challenging if you are local to New Orleans and the surrounding areas. If you are not from the area, then it helps to know people in the legal field who are local and can provide a good reference on your behalf.
Oil and gas remain a popular sector
Oil and gas are consistently one of the more popular industries in New Orleans. It plays home to some of the nation’s largest oil and gas providers. This is largely due to the close proximity to the oil rigs in the Gulf of Mexico. Aside from the oil and gas sector, New Orleans is also home to many alternative energy companies, including Entergy, a Fortune 500 company that produces nuclear electric power. Therefore, as the push for alternative energy sources continues to increase, New Orleans is likely to remain a leading city in energy production.
As one of the nation’s largest port cities, New Orleans features one of the largest maritime and shipping sectors as well. Tourism is also highly popular in New Orleans. Consequently, law professionals who work with legal issues that are most closely associated with these industries can enjoy a wide range of employment opportunities.
Layoffs could mean the market becomes even more competitive
New Orleans has not been able to escape the lack of economic growth in the U.S. As fears of a possible recession across the nation continue to loom, some economic experts are predicting more layoffs in the legal industry (along with most other industries). This means fewer jobs are available, which creates more competition in the New Orleans legal market.
Consequently, it is more important than ever for legal professionals to present themselves as strong job candidates. There are several ways to strengthen your resume. One of these ways is to work with a legal recruiter. A good legal recruiter can provide insider knowledge of the New Orleans legal industry, assist with improving your resume, and help you prepare for calls and interviews. They also are well aware of available job opportunities and work directly with many legal firms.
Biggest law firms currently in the market
The good news for legal professionals in New Orleans is that there are numerous corporate law firms in New Orleans that provide possible employment opportunities. Some of the biggest law firms in New Orleans include:
- Adams and Reese LLP.
- Breazeale, Sachse, & Wilson
- Bradley Murchison Kelly & Shea LLC
- Fishman Haygood
- Jones Walker
Jones Walker is one of the best law firms in New Orleans in the oil and gas industry. They are a full-service firm with approximately 150 attorneys on their staff. They also have offices all across the Southeast. Of course, in addition to these large firms that feature dozens of employees, there are many smaller practices all across New Orleans that may provide more niche opportunities. Smaller firms may also provide opportunities for young and aspiring legal professionals.
“When I resigned from my law firm in 2014 and started my own legal search firm, it took a lot of effort to convince law firms to use me. I had a lot of candidates but few jobs. Now it’s the opposite. Firms in New Orleans and around the state have needs for lawyers both young and old. Maritime law has greatly picked up.”
– Michael Harold, YSR Search
Despite inflation, cost of living remains [relatively] low
All major cities have been impacted by inflation. However, New Orleans’ cost of living remains lower than in other big cities with a similarly sized economy and legal market (relative to other major cities in Florida, Texas, and California. Additionally, despite inflation, the New Orleans industry is likely to continue growing long-term and present more and more opportunities for law professionals.
In other words, for legal professionals who want to work in a city that presents thriving legal opportunities and predictable long-term growth, New Orleans is an excellent city to settle down in. However, it is recommended to have a recruiter on your side that can help identify employment opportunities and assist you with procuring a job that fits your needs and allows you to pursue your long-term goals. Learn more about utilizing the Legal Recruiter Directory to find a suitable recruiter.