This last recession has taught many that even with credentials whether a graduate degree, a plumbers five year apprentice program and endless DMV licenses for driving a truck, a passenger vehicle or a motorcycle do not really mean much if the opportunities are not available. Contrary to believe that education drives the economy, the reality shows that the economy drives education and if one disagrees talk to all those unemployed teachers who spent years taking credential courses only to find that even those state exams taken are worthless.
One survives this economy individually because someone with the same graduate degree can be hired as a college president even if born in another country while the other person, born in the US with a second graduate degree is never even considered. And that is the hard part of this economy because one has to be chosen based on intangible characteristics and that is the unfortunate part because one just never knows. If I had an answer I might be a college president and not a part time instructor.