According to Alan Scher Zagier, writing for the Associated Press, "The days of top law school graduates having their pick of six-figure jobs at boutique firms — or at least being assured of putting their degrees to use — are over. Post-graduate employment rates are at their lowest levels in 15 years."
The article continues, explaining that because the employment rates have declined, so have the law school application rates. "New student enrollment at UCLA law school is down 16 percent, while the University of Michigan reports a 14 percent decrease in applicants."