I really don't get the big deal over Facebook or other social media. The only thing there is what you put on it. For me the value of FB vastly outweighs any possible privacy concerns. I have my account pretty locked down to friends and family, so the worst that is going to happen is that I might see some ADVERTISING. OMG! End of the world!! (and it isn't that bad with AdBlock installed either)
If an employer asked for my FB account, I would happily tell them that it is for private use. I even Google myself from time to time to make sure it stays that way, but I also watch my mouth when I post things. Keep it light, friendly, and absolutely no politics.
If my friends and family care, they will see on FB that I ski, bike, go to the gym and occasionally go out to eat at a nice restaurant. If they don't care, they don't have to look.
Facebook has allowed me to reconnect with long lost friends, 'missing' cousins and lots of other people I might care about. It isn't some deep friendship or family bond, but it is more of a relationship with those people than I had before Facebook came along. That alone is worth something.