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I wonder how things changed - surely the model isn't capturing all the factors. Perhaps the function itself changed?

> trading/technology headcount increased massively since then

Lower costs spur demand. Headcount went up a bit, throughput much more massively. If tech makes lawyers more affordable, that would increase the quantity demanded.

Automation doesn't always kill total avaliable jobs like critics claim, it's only when your potential marketplace is totally maxed out that it starts affecting the total workforce. Most service industries aren't there yet, hence the increase