> underemployed

I don't get why we use this term. You're either employed or you're not. Just because you got an education in something that is no longer valued by society doesn't mean you're entitled to a job doing whatever you're educated to do.

Society rewards those that provide some good or service that is wanted/needed.

Furthermore, employment by others is not the only option. You can also work for yourself (except when the state forbids it through licensing and permits)