An old axiom — when the economy goes down, law school applications go up — hasn't played out just yet

, The National Law Journal

Conventional wisdom holds that recent college graduates and frustrated workers flock to advanced degree programs during tough economic times in order to wait out a bad job market and bolster their resumes. But that scenario doesn't seem to be playing out yet at most law schools. As of late February, the total number of applicants at law schools approved by the American Bar Association had risen by less than 1%.

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