This Was Biggest Jump Since 2008.
There are some positive signs that the Great Recession is easing for U.S. law firms according to a recent survey of 176 firms (79 AmLaw 100, 45 Second Hundred Firms, and 52 niche/boutique firms) by Citi Private Bank. For the first quarter of 2016, the surveyed firms saw revenues increase over 5.8% from increases in 2015’s first quarter. Expenses, meanwhile, only went up 3.2% in the first quarter 2016 as compared to a year earlier. The revenue increase was the largest occurring since 2008, when the economic dip hit with vengeance.