Law Degree Losing Its Luster?

[DrPhil]

http://lifeinc.today.msnbc.msn.com/_...alization?lite

Originally Posted by Article

Lawyers have sometimes taken a ribbing for what they do, but until recently few questioned why they do it: For the good pay and job security.

You can’t necessarily count on either of those things anymore.

The weak economy, globalization and technological advances have dramatically changed the legal industry, and experts say that's leaving a glut of lawyers coming out of school with massive student loans, high hopes and few job prospects.

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As is the case for many degrees and occupations, I know people with Juris Doctorates, including those who have passed Bar(s), who are unfortunately unemployed or working in an occupation other than what they invested so much time and training in. There unfortunately have always been people with Ph.D., J.D., M.D., etc. in unemployment lines (and needing public assistance). That is becoming increasingly the case in recent years.

What do the GC attorneys and law students think? Is this "law degree losing its luster" just drama and hype?