A lot of people get Masters because they go out into the job market after they get their 4 year degree and when they don't get a job within the first year or two, they go back to their college and say "Hey, what the fuck happened here? Why don't I have a job" so the counselors look you in the eye and say "Hey, its a tough economy, if you want one of those jobs, you have to come back and get your Masters."
Then they go back, and of course, don't get a job because now they are 30 years old and don't have any actual job history or related experience.
You can't make it in the job market if you aren't smart enough to make it without being in the job market.
For example: I'm getting my Masters right now, have a couple semesters left. I put on my resumes that I'm currently obtaining it. Sent it out, no real response. Most of my job offers were for $32k a year jobs in sales with companies with horrible turn over rate. The bigger and better jobs weren't calling. I eventually started calling them and requested someone in HR go over my resume with me so that I have a higher chance at success for future positions. It was said that I wasn't chosen for an interview because of my lack of employment - although I was in school. When I mentioned "I was getting my degree, and hey, I created a business that nets $360,000 after taxes each year, with just $500." This changed the tune of things and I was hired for an Operations Management position within a week after one of the conversations. The current Operations Manager was told he was being moved up. Day I started, was the day he was fired and I took over his job. I did this for about 2 months before decided that going to work as a return on my investment of time wasn't worth it. I was getting a salary of $44,000 a year to make a steel service company $27,000,0000 a year.
Also, the U.S. job market is 10 times shittier than what the media would suggest. This is one of the only things the media actually down plays. I was in China, couldn't speak a word of Mandarin, offered a job paying $80,000 USD within my first week of being there as a project manager for a video game company. Then I was offered a job in eCommerce, I was even offered a job as a Sales Coordinator for a company based and head quartered in my hometown of Muscatine, Iowa with a branch in Shanghai where I was I turned down for an entry level sales position.