Will U.S. graduate enrollments shrink in the years ahead?

That's one prediction in this CHE piece:

Whether by cohort reductions or would-be students leaving the pipeline, graduate education will reach an eventual new equilibrium that may not match the graduate-student populations of the last decade, says Earl Lewis, who was president of the Andrew W. Mellon Foundation from 2013 to 2018 and is now director of the University of Michigan’s Center for Social Solutions.

“By the time we get to ’25 or ’26, we may look back and realize that we’ve reached a new plateau, that it was not as high as it was in 2010, let alone 2015,” Lewis says.

Will this mean the job market will be better in 2025 or 2030?   Unfortunately, I'm not optimistic, given the general retrenchment in investment in higher education.