I didn't know how bad the economy was until...

I posted a new job online. Just a piddly office assistant position. Relatively normal pay range. Nothing special.

I have had over 100 applicants in 2 days. This was surprising, but not truly disheartening. 94 people with some form of degree. 49 of them have at least a Bachelor's Degree. 2 have a Master's Degree. 1 has a doctorate.

Now, granted, there are degrees that aren't worth the paper they are printed on and there are degrees that should get you a job. Right?

4 RNs. 6 Business degrees. 1 Economics degree. 1 CPA. 3 PAs. 14 Medical Assistants. Plus a healthy sprinkling of education degrees and some of those odd degrees that beg the question "what were you planning on doing with that degree?"

Is the economy really this bad? Are these people seriously willing to take a job with crap pay answering phones and filing? Are there simply this many people who are dragging out their unemployment as long as possible? In any event, this is a bad sign.