In a survey co-sponsored by the Maryland State Bar Association, data provided by 393 Maryland attorneys showed the continuing significant impact of COVID-19 on the legal profession. The Maryland Lawyers Confidence Survey for Quarter 2 was conducted by The Daily Record May 25 to 29, 2020.
When the Quarter 1 survey was conducted from February 21 to March 6, 2020, 52% of respondents agreed that, overall, the economy was strong. In contrast, by late May, 85% of respondents disagreed with the assertion that, overall, the economy was strong. Also back in February, more attorneys were confident that they expected an increase in billable hours (38%), compared to those surveyed in May (25%).
The combined results demonstrate a marked decline in the confidence of attorneys since Quarter 1. The overall Maryland Lawyers Confidence Index score was -37, down from -3 in February. The Confidence Index declined in the following areas:
- Our firm plans on hiring additional attorneys within the next three month
- February 2020 Confidence Index -26
- May 2020 Confidence Index -61
- Our firm anticipates an increase in billable hours over the next three months
- February 2020 Confidence Index 11
- May 2020 Confidence Index -20
- Within the next three months, our firm plans to invest or expand in Marketing
- February 2020 Confidence Index 5
- May 2020 Confidence Index -6
- Within the next three months, our firm plans to invest or expand in Technology
- February 2020 Confidence Index 14
- May 2020 Confidence Index 0
- Within the next three months, our firm plans to invest or expand in Support Staff
- February 2020 Confidence Index -23
- May 2020 Confidence Index -51
- Within the next three months, our firm plans to invest or expand in Infrastructure
- February 2020 Confidence Index -32
- May 2020 Confidence Index -45
- The overall state of the economy is good
- February 2020 Confidence Index 29
- May 2020 Confidence Index -79