This thread is way too pessimistic.. There are a good amount of meteorology jobs right now in the energy and commodities sectors, along with alternative energy and met-tech's as well. Not to mention the broadcast openings. I graduated very recently (mid recession), and I can say that a large portion of my class has excellent jobs. We have 3 Wx Risk grads at energy firms, one at a reinsurance firm, one at a global supply chain company, a few in grad school, and the majority of the rest in private forecasting gigs. I think the job scarcity issue is more at play when it comes to general forecaster positions than anything. NWS is tough to get for seasoned mets, let alone kids out of school. Couple that with people who do nothing to further their education post grad (even COMET modules help) and are unwilling to relocate, and you can see why there is a perception that there are no jobs.
Broaden your horizons within meteorology and there are opportunities available. When you do get an opportunity, you have to seize it and you have to shine. Working hard isn't enough...you need to demonstrate social skills, show initiative, and demonstrate your value.
I can tell you right now that majoring in weather risk was the smartest decision I ever made. Commodities and energy scarcity are huge issues right now, and they will only be further stressed as the population grows further. While many people dream of the NWS, there are amazing opportunities out there if you're willing to just go for it. Commodities and energy are where the jobs are going to be moving forward. I'd argue the name on your degree matters too, but that's more about networking.