I don't think anyone here can accurately state whether more education would assist in creating job opportunities.
You can have all the education in the world, but if your portfolio is lacking, you may not get any employment offers.
The truth of the matter is experience and a good portfolio carry a lot more weight than any education.
All a Masters shows is you excel at acquiring formal education. That is a far cry from having honed skills and solid work ethics. If you can't show that education in applicable and tangible forms, it's not often worthwhile to employers in design fields. i.e. I can take a course in cabinet making... I may get very high marks in the course - "ace" the course. But if my craftsman skills are so poor I can't build a cabinet which remains standing, what good is the education when seeking cabinet making employment?
At some point, lack of any education is not the detrimental factor.