Court Reporting is a Recession Resistant Profession
Press Release 3/28/2011
Temecula, CA - March 28, 2011 - Few industries have been completely untouched by the Great Recession but court reportingmay be one of the more resistant professions during this downturn.
You have seen them in court and on TV: the court stenographer or deposition reporter sitssilently listening to testimony while their fingers flail away at lightning speed. Court reportersare responsible for keeping an accurate record during legal proceedings. And that may be theexact reason why they are still in such high demand despite an economic slowdown -- there isstill a lot of litigation going on.
“Even while housing is in a slump and jobs are scarce, we have seen an increase in thenumbers of depositions,” says court reporting agency owner Todd Olivas, of Todd Olivas &Associates Court Reporting in Temecula, California. “In fact, many of our clients choose to takea deposition sooner rather than later to avoid protracted costs and get to a settlement quicker.”All of that adds up to more business for court reporting agencies such as Olivas’.While no industry-wide statistics exist, Olivas claims business is good. “We had our best yearin 2009, up 15% from 2008. Due in part to a very large job from the Environmental Protection Agency that accounted for nearly $300,000. Our 2010 numbers were good -- not great -- but good considering the recession. If you remove the EPA job from the numbers, we flatlined in 2010. However, in 2011 we are on track to book a 20% to 25% growth pattern. So I'm very pleased with our progress.” Olivas attributesthe increase in the volume of depositions to the increase in litigation as well as a rebound inWorkers Compensation claims. “During Governor Schwarzenegger’s reign, the pendulumswung very far to the right a far as being in favor of the insurance companies. Injured workersstill exist though, and I personally have witnessed my Workers Comp clients increase theirvolume of depositions accordingly.”All of that makes Olivas optimistic for the future of his company as well as the court reportingindustry in general. “There is no such thing as a recession-proof industry, but I happen tobelong to one that is at minimum recession resistant. And for that I’m very grateful.”
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