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Imagine struggling away at your job and ending the year without making any money out of it. Not so hard to imagine for a vast number of practitioners, who will find the newly-released figures on earnings and profitability in the solicitors' profession a depressing confirmation of what they already know to be true. According to the report less than half the firms operating in this area were actually making money out of it.
It's easy to say that the profession should not be gloomy and look elsewhere for cheer. But the sheer numbers involved in conveyancing make that difficult. Until the situation improves (and according to the statistics there is no sign of improvement), the Law Society will face its toughest test in keeping the profession happy.