https://www.lawgazette.co.uk/law/city-firms-trainee-retention-rates-falling/5059944.article
On the basis that the training costs for a Solicitor now run into sums of tens (if not hundred plus) thousands of British Pounds (GBP £xx+,000s), any retention rate number materially below 100% show firms suffering wasted expenditure, at least in part caused by the relevant firms predictions of near future economic activity being less than that they forecast several years before.
When the second derivative (change of retention rate) is falling (as these figures appear to show), that may well be a worrying sign in terms of forecasting a technical recession for the economy.
English Trainee Solicitors may have to comfort themselves that at least they are not joining the Law Society of Scotland . . .
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