Lots of people have college degrees in fields where jobs simply do not exist. Bachelors in Philosophy, Women's Studies, or Underwater Basket Weaving are admirable but do nothing to prepare you to get a job. Most people who study in fields that don't directly correlate to a job end up having a career in an irrelevant field after on-the-job training.

Being educated and unemployed just means that you probably didn't need to go to college anyway.