Purple- I think a more accurate description is that the middle market legal jobs are drying up.
There are still plenty of jobs at the high end, high billing white shoe law firms. There are still plenty of jobs in the public sector/public defender/immigration lawyers who work with the indigent.
But the mid-sized firms, the four lawyer/one para and a receptionist model is feeling the heat. The days where a 7th year associate who wasn’t going to make partner at a big firm could waltz into an in-house counsel role for a hefty salary-- these are the kinds of job feeling the pressure from AI, the outsourcing of a lot of low end clerical e-discovery work, etc.