The Law Society’s Annual Statistical Report has revealed that training contract numbers decreased slightly in 2013-14.
Some 5,001 traineeships were registered in that year. This is down 5.6 per cent on 2012-13, when 5,302 new traineeships were registered with the SRA.
However, it is higher than the numbers registered in 2009-10 and 2011-12, demonstrating that the number of training contracts has broadly stabilised since the recession.
The number of training contracts reached a high of 6,303 in 2007-08. The most recent low was in 2009-10 when just 4,784 were registered.
The Law Society’s report also revealed that just over 60 per cent of training contracts went to women in 2013-14 – a figure broadly in line with the numbers of the last ten years.
Nearly 55 per cent of all training contracts are London-based. The second largest region for training contracts is the North West, which accounts for a further 11 per cent.
Very large firms – those with 81 or more partners – now offer well over than a third (38 per cent) of all training contracts, up from a quarter in 1998-99.