http://www.bls.gov/ooh/legal/lawyers.htm
Job Outlook
Employment of lawyers is expected to grow by 10 percent from 2010 to 2020, about as fast as the average for all occupations. Competition for jobs should continue to be strong because more students are graduating from law school each year than there are jobs available.
There was always fierce competition between lawyers for jobs but the field is expected to grow just as steadily as most other jobs in America. People also fail to realize that when you graduate with a J.D you have more options then just practicing law. You can become a legal professor, Legal Consultant, Public Administration, Public Servant (look at how many politicians are lawyers) etc.