Legal services
Industry profile, February 2020
Sections: Description | Pricing | Costs | Demand | Appendix
This page is an industry profile for the Legal services industry. It provides a general economic overview of recent developments in the industry. This includes information on industry pricing, costs, and demand. Below you will find a description of what type of business establishments are included in this industry. For information on how to best utilize this industry profile please visit our Business Solutions.
Industry Description
This industry group comprises establishments primarily engaged in offering legal services, such as those offered by offices of lawyers, offices of notaries, and title abstract and settlement offices, and paralegal services.
This industry description was sourced from the North American Industry Classification System.
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- As of January 2020, prices in this industry had increased 0.3 percent since the previous quarter.
- From January 2019 to January 2020 prices in this industry increased 4.5 percent.
- Prices increased 12.8 percent in the five year period starting in January 2015 and ending in January 2020.
To download this data, or to learn more about how costs for this industry are measured, please contact us.
- As of January 2020, costs in this industry had increased 0 percent since the previous quarter.
- From January 2019 to January 2020 costs in this industry increased 1.7 percent.
- Costs increased 8 percent in the five year period starting in January 2015 and ending in January 2020.
For details on which industries are included in each sector, click here
- The largest cost for this industry is purchases made to the Labor sector. This sector accounts for 57.9% of the industry's overall costs.
- From January 2019 to January 2020, the largest change in costs for this industry were costs associated with purchases to the Real Estate and Rental and Leasing sector. Costs associated with this sector increased 8%.
| Sector Name | Percentage of Costs | Annual Percent Change 4 |
|---|---|---|
| Labor | 57.9% | +1.9% |
| Real Estate and Rental and Leasing | 12.4% | +8% |
| Professional, Scientific, and Technical Services | 7.1% | -1% |
| Information | 5% | -2.7% |
| Administrative and Support and Waste Management and Remediation Services | 4.1% | -1.6% |
To download this data, or to learn more about how demand for this industry is measured, please contact us.
- As of July 2019, demand for this industry had increased 2.3 percent since the previous quarter.
- From July 2018 to January 2020 costs in this industry increased 5.2 percent.
- Costs increased 4 percent in the five year period starting in July 2014 and ending in July 2019.
For details on which industries are included in each sector, click here
- The sector that contributes the most to this industry's demand is the Personal consumption sector. This sector accounts for 27.8% of the industry's overall demand.
- From January 2019 to January 2020, the largest change in demand for this industry was from the Private fixed investment sector, where demand increased 43.7%.
| Sector Name | Percentage of Demand | Annual Percent Change 6 |
|---|---|---|
| Personal consumption | 27.8% | +1% |
| Private fixed investment | 9.6% | +43.7% |
| Finance and Insurance | 9.3% | +2.7% |
| Manufacturing | 6.5% | -1.7% |
| Health Care and Social Assistance | 6.3% | +0.2% |
- Pricing measured from January 2020.
- The BLS PPI used for this industry is PCU5411--5411--.
- Costs measured from January 2020
- Demand measured from July 2019
