Communication is a critical skill today as are information skills. Truly sad that they are often derided as being worth less than technical skills.
Let's call it not English major, a mostly literary scholar, but a master of natural language communication and epistemology. Definitely it's a set of skills useful in a wide variety of positions.
It takes an exceptionally affluent society to let everyone pursue their interest as their full-time occupation. I expect the few of exceptional ability to make a living off literary research pursuits, via grants and book sales, with others who love it doing it as a hobby, or after retirement. This is roughly how it worked for many centuries in the past, and the results are impressive.
I'm sure your average psychiatrist graduate can communicate and think logically, despite having a high paying job. Or airline pilot, or naval officer, or air traffic controller, or scientist, or businessman etc.