Does a humanities PhD boost one's altacademic career long-term?

The academic job market is dire and for much of the humanities is rapidly shrinking.

And many of us in the humanities find that when we graduate from our PhD we have few skills or experiences that employers are interested in. Many of us end up working retail.

Yet I hear from lots of people that having a doctorate is really helpful for promotion to the highest levels in various businesses. I was wondering does this apply to humanities as well or is that only a perk for STEM fields?

Give me some hope for the future lmao