Hildebrandt Peer Monitor has collected data from 100 firms, 35 from the Am Law 100, 35 from the Am Law 200 and 30 from the NLJ 250. Their study has concluded that San Francisco has fared much better during the recession than many other big cities.  In the first quarter of 2009, demand for legal services fell 8 percent, compared to the same period last year.  New York’s legal service need dropped a total of 9.5 percent.  Los Angeles saw an 8 percent decrease.  San Francisco, however, demand for legal services only dropped 1 percent.  These figures are calculated with the use of the firms’ billable hours.  The demands for various practice areas were also calculated.  Bankruptcy grew by 13 percent.  M&A became a bigger demand by 2 percent.  Litigation remained the same, and every other practice field decreased in demand.  For instance, general corporate work decreased an outstanding 14 percent.  Real estates is down by 20 percent.  It is unclear as of yet, why San Francisco has weathered the economic decline so well.

Source:  www.law.com