In 1996 about 47,000 people applied to medical school. Last year, about 34,000 applied. The correlation between the state of the economy and the number of medical school applicants has long been recognized. Despite the best efforts of those controlling the admissions process however, some of those extra 10,000+ applying when the economy was poor got into medical school.
With our economy facing a long term slow down, the number of applicants will begin to rise. Law school applications already shot up this year.
Once all these people who are pooping their pants now about not having a job get their pre-med requirements done, they will apply to medical school, and some will get in.