It depends on the job you are after. Certs are extremely specific. If it matches the job - like they want an Oracle DB sys admin and you have that certification - it might help get you the interview. But it is so bloody specific. I tend to try and hire people with more general experience who can learn the product I use right now. They are way more deployable in 3-5 years when the certification becomes obsolete.

Type of degree matters big time. My wife and I have eng degrees and have never been unemployed. We are in mid-40's. Right now I know 4 different guys with Commerce/Business degrees that are out of work. All started after Univ with jobs selling ad space, insurance, working in banks, managing sales accounts etc.. The problem is that although they know a domain - the skill set needed to do the job is just not that hard to master - and they get too expensive. Who wants the 45 yr old sales fart when you can have some new grad for half the price. Funny thing is that my wife doesn't even work as an engineer. She is in finance and does costing/contract stuff. She gets great jobs - works in technology but on the business side. They hire her because she has an Eng degree and understands what they are talking about. The generic Bcomm schmuck can only fake it.