How much do you really know about personal injury attorneys? In Part I of this two part series profiling Mississippi personal injury attorneys, we addressed some basics about what a personal injury lawyer is, how personal injury law developed, how one becomes a personal injury attorney, and what a personal injury lawyer makes a year. In this segment, we will continue our look at personal injury attorneys, studying the commonality of the practice, the number of accidents a year, and expected growth trends.
How many personal injury attorneys are there in Mississippi?
There are over 7,000 active attorneys who are residents of the state of Mississippi. This amounts to approximately 23 attorneys per 10,000 residents. While this might seem like a lot of lawyers, it is actually below the U.S. average of 40 lawyers per 10,000 residents. As for the number of personal injury lawyers, there are over 650 lawyers in Mississippi who list personal injury law as a practice area. Nearly half, or 237, of these attorneys offer legal services to residents in the Jackson, Mississippi area.
How many accidents occur in Mississippi each year?
Most reports list accident statistics by type of accident. The most common accident in Mississippi, and across the United States, is car accidents. Over 750 car accident fatalities occur each year in the Magnolia State, placing it in the top 20 for most dangerous states to drive. Automobile accidents are not the only common accident in Mississippi. The state ranks tenth highest for pedestrian deaths, with over 50 occurring this past year. It also is home to many workplace injuries each year.
What are some future projections for the field of personal injury law?
Nationally, the personal injury field has continued to grow year over year. The industry’s revenue grew to over $25 billion in 2012. Personal injury law has benefited from the aging U.S. population, which has led to more falls and other injuries, medical malpractice claims, and nursing home neglect. Further, the number of individuals pursuing personal injury claims has actually risen during the recent economic downturn, despite the number of motor vehicle accidents decreasing. Researchers speculate the recession has caused many individuals to pursue claims if they are injured where they might not have done so before.
The personal injury field is expected to gross over $29.5 billion by 2017. Lawyers are expected to benefit from an uptick in profits generated by structured settlements, which have increased in popularity in recent years. Structured settlements are payment arrangements that allow the defendant to pay damages over a period of time.
Despite positive trends in the overall revenue of the personal injury law arena, personal injury lawyers must be ever mindful of the continued flux of recent law school graduates. Newly minted attorneys entering the field may lead to increased competition and could harm small firms.
Though time will tell whether the personal injury practice remains viable in the future, with the astonishing rate of accidents nationwide and continued need for innocent victims to obtain compensation, it seems likely personal injury attorneys will continue to have a multitude of clients.
Giddens Law Firm: A Personal Injury Firm of Excellence
Attorney John D. Giddens founded Giddens Law Firm with one goal in mind—helping accident victims who could not otherwise help themselves. Mr. Giddens has devoted his practice and his life to seeing injured Mississippians receive justice. With extensive litigation experience and a proven track record of excellence, the attorney’s at the Giddens Law Firm will guide you towards a full and complete recovery. Call the Giddens Law Firm today at (601) 355-2022 to schedule a free consultation.