The Statistical Research Center of the American Institute of Physics conducts an annual census of all degree-granting physics departments in the United States and Puerto Rico. In the 2007-2008 academic year, there were 763 degree-granting departments. The authors received responses from 97% of these departments. Estimates were derived and included in the totals for non-responding departments. Their findings are presented in this paper. Appendices include: (1) Undergraduate physics student enrollments, fall 1999-fall 2008; and (2) Graduate physics student enrollments, fall 1999-fall 2008. (Contains 3 tables and 6 figures.)