I interned in a law firm my entire senior year and now hold a BA with majors in Government and Philosophy. These experiences would leave me well primed to go to law school which was my original intention after graduation. After spending time in the firm however it is really eye opening to see how the business is rapidly changing. There is an over supply of young lawyers these days for a number of reason.
First, there are too many low quality law schools churning out people who can barely pass the bar. Those schools take home the tuition money and the young graduates have a mountain of non-dischargable debt with nowhere to turn. The rate of unemployed young graduates is actually probably even higher than figures show because schools will pay a small stipend to recent graduates so that they can say they are "employed" when the yearly figures for former students employed 6mo out are released. It's all about taking home the tuition for these schools and they shamefully advertise how demand for lawyers will increase and job prospects will remain high.
Second, the business has become vastly more efficient as firms begin to adopt digital case management systems and can now conduct research online instead of having to sort through volumes of old books. You know when you see the generic shelves of law books in offices? Yeah those just sit there collecting dust now. They are for show because all of that information has now moved onto the computer. The legal industry has been slow and late to adopt technology but it has made lawyers vastly more efficient than they could have been before. Even things like being able to email scans of documents can speed up the process astronomically. As older lawyers who cannot use computers begin to exit the workforce and younger ones who can move up in the ranks, firms just do not need as many people working as they did before. The vast majority of legal work is not what you see on TV or in the Ellen Pao case where it is a battle of the brains in real time for a court room. It is mundane routine paperwork that can be automated or done by assistants.
A lot of this stuff can even be done at home by your average person with products like turbo tax that enable the average person to not need representation for basic needs legal needs anymore.
I no longer plan on going to law school and have been taking online courses in programming/reading a ton of programming books since I graduated in hopes of turning what has been a long term hobby of mine into a career, hopefully combined with politics or law. (I am thinking campaign research/advertising online or legal software on the law side.)