I completely disagree with lutusp.
It depends. I cannot give you an unequivocal yes-no answer.
You don't learn a language for the sake of learning a language. You learn a language in order to accomplish something. So what is that "something" that you want to accomplish?
If you want to build a web app, you don't learn Java, you learn Python or Ruby (and use one of the web frameworks). If you want to build the front-end of a website, learn Javascript, HTML, and CSS. If you want to build an iPhone/Mac app, you learn Objective-C. If you want to build an Android app, learn Java. If you want to work with machine learning, consider learning Java or Python or C++, depending on what libraries you use. If you want to build Windows apps, learn C# or Python or Java. Etc. Etc.
EDIT (reply to below):
I learned Java in school (the language and most of the essentials of the standard library). I have never touched it again. If you ask me to build a real-world product (i.e not just implement an algorithm or something) in Java today, I would not be able to do anything until I teach myself the necessary libraries. Not to mention that precisely because I never built any large projects in Java, my understanding of Java is very weak. If you're going to learn a language, you might as well learn the language that lies on the path to building something useful.
Most employers are going to hire you based on what you're capable of building, not what languages you know. (I think the exception would be "big" companies who are not technically focused).