I am dating a liberal arts graduate and she has been looking for a job for months now with no luck in her field. I have some friends who have been through similar experiences. It is a field that people join because they feel passionate about it, but there aren't as many openings as there are applicants.
The problem is that, the young people of today are having so much interest in art, music and acting. This is not something negative-art and humor is important in the world, and is the brighter side of every day. However, too many people are engaged in making it in the art world. And since there are so many people are trying to find jobs in the artistic world, companies/movies/singing shows/recording studios, etc only accept the best artists. There are so many graduates out there and so little are being accepted, so of course it's harder for them to find jobs.
If they don't plan on continuing their education, then yes it is going to be difficult. If they use it as a stepping stone to a law degree or teaching credential they should be fine. Strictly alone though they will be a tad bit limited in what fields they could enter with it. I don't see much beyond human resources and even in that they'd be at a disadvantage.
I sure hope not, at least. There has to be something to be said about being "well-rounded", about being well-versed in all or at least MOST disciplines, covering the majority of bases. I think that having a broad variety of educational knowledge can help one obtain employment in a wide variety of fields,irrespective of the fact that some might argue that it doesn't prepare one for a SPECIFIC career, which it doesn't, to be honest. Nevertheless I think that it's a good way to go if unsure about specific majors,or if one is interested in anything and everything!