A very interesting article on how there's a rebound in computer science majors.. But not by very much. The article shows:
Fall 2005 -> 7,952
Fall 2006 -> 7,840
Fall 2007 -> 7,915
So is it on the rise? That still remains to be scene. But I'll go out on a limb here and say that it actually isn't increasing. I'm only saying that because of the other issues that are beginning to crop up in the process of scouting and hiring potential candidates for a job.
Experience is beginning to be a factor. You can go through a CS degree and do co-op, but there are still many people that don't get jobs because they lack experience. They may not get a job in their first and second runs at co-op. Their hopes of getting a job in the final runs at co-op are slim. Most give up, some even change majors.
There's also the issue of certifications. Some don't see the value in certification. Once they get the certification, they think getting the degree was a waste of time and money. Those folks tell 2 friends, and they tell 2 friends, and so on, and so on. Computer science degrees cover a bit of everything, so grads are not doomed to be programming at a desk for the rest of their lives. Some people like that, some don't.
The other comments in the article give pretty decent points of how others feel.