Trainee retention rates at UK law firms have dipped this year for the first time since the height of the downturn in 2009, according to a new survey of 123 commercial firms.

The research, conducted by the Chambers Student Guide, found that 2,074 out of 2,620 qualifying trainees were kept on at their firms this year, equating to an overall retention rate of 79.1%, down on last year's corresponding figure of 80.5%.

Prior to this year, retention rates had been recovering steadily in the wake of the financial crisis, with previous Chambers research showing rates creeping back up towards pre-recession levels from a low of 74% in 2009, after plummeting from a figure of 82% in 2008 before the crunch took hold.