Most people who go for more degrees believe they can get better job at the end of the day. People that only go for more degrees in a stare with high unemployment rate are they doing right thing by putting all their focus on academic because this is the only thing they can do best.
Some jobs actually require you to get more degrees especially when you want to go into the academic line and become a doctor or a professor which will be an added advantage, and also in some offices too but aside from all that, no knowledge is a waste it will improve you in a way. and looking at the nature of some people naturally they enjoy reading books to improve their knowledge in a particular field, and these days if you consider the effort put in. while reading is even more than that of the pay you collecting but with passion people don't even mind they will put their maximum effort.
it is even getting more difficult to get a job now because we have limited jobs and considering the population of people that is a problem so even with qualifications it is still very difficult to secure one that can even pay you well. Relying on a degree alone is not a good idea is better to have a demanding skill to improve on, and that is what is behind the increase in the unemployment rate. the majority still believe in the government creating more jobs.