I can't remember where exactly this originated, but I know someone recently speculated that a lower number of applicants might have something to do with Rutgers extending its deadline. I think that the original remark about a lower applicant pool arose from a similar situation, with someone trying to account for something they saw on a program website. And while I share 1Q84's hesitation about reading too much into these signs, I think -- if I, too, can speculate for a moment -- there might be a chance that fewer applicants this year.
While I haven't seen definite proof of this in any article, I think it's probable that the number of applications to PhD programs in English Lit mirrors the downward trends that other postgraduate programs have seen. A number of recent articles have talked about the five year dip in law school applications (see below). Now, I realize that law and lit programs are very different , but law is experiencing many of the same issues that we're seeing in the humanities right now -- most importantly, a glut in the number of graduates and thus a poor job market. Are undergraduates in general starting to think that limited job prospects simply aren't worth the time and effort that a postgraduate degree requires?
http://dealbook.nytimes.com/2014/12/17/law-school-enrollment-falls-to-lowest-level-since-1987/