B-School applicants fall for third year in a row

I am a bit surprised to hear this since it seems like everyone that I know is considering an MBA.

According to Inside Higher Ed:

Applications to M.B.A. programs fell for the third year in a row, Business Week reported. Data from the Graduate Management Admission Council suggests that more M.B.A. applicants may be on the way, but perhaps not from the United States. During the first half of 2005, there was a 0.4 percent increase in volume on the GMAT, the entry test for graduate business programs, compared to the first half of 2004. But the increase was due to test-takers outside the United States, which increased by 4.8 percent. Volume in the United States fell by 1.6 percent.