For many years the paralegal profession has ranked among the fastest growing of all professions. Surveys have established that paralegal compensation is increasing at an impressive rate.
Paralegals are projected to rank among the fastest growing occupations in the economy through 2008.... Employment growth stems from law firms and other employers with legal staffs increasingly hiring paralegals to lower the cost and increase the availability and efficiency of legal services. The majority of job openings for paralegals in the future will be new jobs created by rapid employment growth; other job openings will arise as people leave the occupation.
Private law firms will continue to be the largest employers of paralegals, but a growing array of other organizations, such as corporate legal departments, insurance companies, real estate and title insurance firms, and banks will also continue to hire paralegals. These organizations are expected to grow as an increasing population requires additional legal services, especially in areas such as intellectual property, health care, international, elder, sexual harassment, and environmental law. The growth of prepaid legal plans should also contribute to the demand for legal services. Paralegal employment in these organizations is expected to increase as paralegals are assigned a growing range of tasks and are increasingly employed in small and medium-sized establishments.
Job opportunities for paralegals will expand in the public sector as well. Community legal service programs, which provide assistance to the poor, aged, minorities, and middle-income families, will employ additional paralegals to minimize expenses and serve the most people. Federal, State, and local government agencies, consumer organizations, and the courts should also continue to hire paralegals in increasing numbers.