This report presents the results of a 1995-96 survey of U.S. colleges and universities offering doctorate, masters, and bachelors degrees in physics and astronomy, focusing on degree production and current student enrollment. It found that a decade-long increase in physics doctorate production appeared to be leveling off, with the 1995 degree total at 1,461. First year graduate degree enrollments continued to decline in 1996, falling 5 percent from 1995's total. The number of bachelor's degrees conferred has also been dropping steadily, falling to 4,263 in 1995, the lowest in three decades. The number of women obtaining degrees in physics has increased or remained steady in recent years, while students from minority groups continue to be underrepresented in the field. Although many graduate physics programs are finding it difficult to increase or even maintain their incoming graduate class, introductory physics course enrollments have remained strong, reaching approximately 380,000 students in 1996. Astronomy degree production has been increasing in recent years at both the bachelor's and doctorate level, with 133 astronomy doctorates conferred in 1994-95. An appendix provides data on degree and enrollment trends over the last 10 years. (MDM)