Why the decline in recent LSAT applicants?

Recent years have shown a downward trend to the amount of people applying to law schools and taking the LSAT (law school aptitude test). Why? It's because the recent law grads -- those just out, looking for work, and finding little to no help from their law schools-- feel disaffected and left out. Their advice to others inquiring about a decision to go to law school has been "don't go."

At least that's the theory in this article from Above the Law. 

(hat tip, taxprofblog).