The L.A. Times reports:
The numbers of high school graduates across the country rose from 2.6 million in 1996-97 to a peak of 3.4 million in 2010-11, as the children of later baby boomers matured into 12th-graders. Then a decline began and the low point will be this year's 3.2 million nationally, according to a report by the Western Interstate Commission for Higher Education.
There's more:
In California, the number of high school seniors is expected to be about 3.5% smaller this year than last, according to the state Department of Education.
The higher education bubble update.