Yet because of the licensing and laws and regulation, most law firms are still charging > $150/hour (from what I've seen), because there's still few choices. While there's more lawyers than there have been in a while, it hasn't at all brought the pricing down. I suspect it ends up as simply more profit for the larger firms. Because there's more competition for jobs, they can pay less, but because of the regulations (barriers to entry) the prices can remain high. It seems an odd paradox, but I may be over simplifying.