Life after graduation

So I finished my masters degree a couple of months ago and I have determined that life after graduation has a lot of potential. It has the potential to be great beyond my wildest dreams. However the current in between phase that I am stuck in pretty much sucks. I have been searching for job...and applying...but still with little luck. I was essentially turned down for 2 jobs that I could do hog tied. I had already been working in a position for 2 years that was quite similar in a variety of aspects to the position I applied for, however, it seems that I am still running into the same catch 22. I dont have enough specific experience in my field of choice, but I am unable to get the experience without a job.

Maybe when I meet people for the first time or interview, people look at me and think I m stupid or something. This thought was actually brought about when a few days ago one of my work colleagues said that she thought I would suck at the job I have been at for 2 years when I was first hired. I of course did not suck at my job and actually moved into a pseudo management roll and team lead position. I tend to excel in the business environment. I attribute that to my massive amounts of common sense. It more than makes up for what I lack in book smarts. I have just always had a strong work ethic when I work. My dad seems to have played a large roll in this. Whether he likes his job or not, he has always put forth a strong effort and left the excuses for everyone else. He is also a fairly humble individual. Anyone with any sense of pride would work hard and do the job right.

Its just a shame that so far a masters degree is not paying any dividends and its just a 40k piece of paper...that I have still yet to receive in the mail.