I know that lots of people do further study and it is good for your mind etc. They don't specifically get a degree just to get a good job but some of them may hope it would improve employment prospects.
However if you are mid forties or older and have an ordinary factory or office job, would you keep quiet about your degree? I know that people who don't have a degree are often proud of the fact that they don't have a degree and are working alongside people who do have a degree. Some of them have the attitude that a degree is no advantage if a person with a degree is in an ordinary job, earning the same as someone without a degree.
I have a degree, got made redundant from my job. I then had to take a general office job as jobs were scarce. I would put the degree on my application for promotions but I would not broadcast the fact I had a degree to colleagues. I mentioned it to one and she said 'what are you doing here?" . I was embarrassed to say that jibs were scarce in my locality and I couldn't stay without a job while I waited for a special job.