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Co-op ABS plans to create thousands of legal jobs

Consolidation (combined with an ever greater use of IT) will inevitably result in the total numbers employed in the legal services sector in the UK falling substantially. For each member of staff taken on by Co Op, at least one job will be lost elsewhere in the sector (not, of course, instantaneously though). The question is whether the process of consolidation is inevitable. The answer is that if the UK wishes to remain a wealthy nation then it must be able to compete, and unnecessarily high legal fees represent a drag on the overall competitiveness of the whole economy. In any case the numbers working in essentially *every* sector of the economy are due to fall massively due to automation. We are going to have far more people than jobs in the future, and need to start asking some fundamental questions about how wealth will be distributed. Fast.

24-May-2012

3:18 pm