Compared to those focusing on the practical side of English, do English Literature graduates stand a chance in the job market nowadays? Why?

In my opinion, any one who tops and skilled in any field has job opportunities. English being a global language no doubt English literature graduates have opportunities, it need not be the same field what skills and knowledge they got in English can be used for any other fields jobs it may be administration, managerial , media and the scope is unlimited for an optimist man. 

Thanks. Though it is not my skill, with little knowledge I have in English, I can opine that there will be plenty of job opportunities for them as it is one common language communicated across the globe.

Of course! Who says that English Literature is a passe? In fact, it's in-demand. Ask someone in countries, like Japan and Korea, which are now turning to having English as their second language. Obviously, they not only go for practical English. Or, you may ask the Education sector (worldwide - not only in your country) for statistics on this matter. And you'll find out how many are in the English Literature field. Check also the different job sites (like Upwork) and BPOs. Check with them how many clients are in need of English Literature professionals.

Actually, English Literature professionals can get into a range of jobs - from teaching, literary arts, etc... You cannot under-estimate their scope.

Having a degree in English literature means, extended command on comprehending English. Certainly it's not possible without strong skills of reading, writing, speaking and speaking skills. So English literature boosts these skills to a high level as compared to another degree in English language. 

There are vast opportunities for English literature graduates, even in the countries where English is not a primary language. They get hired for positions that need intense understanding and opulent expressing skills in English language. A few of these are media & publishing, academic, administration, story writer for film and drama, negotiating for multinationals, translators and interpreters, etc.

I apologized for the answer I do not know the answer Leave for professionals

English Language graduates could navigate the market and surely there will be   a chance for that as literature is the key concept of language effeciency and the  stand for drama stages, the  historical Greece myths , and  poetries  that are used as universal songs

A similar concern has been raised in this forum previously too, and my answer is the same. It depends on which market you are trying to tap. For instance, the Arabic world needs very little of English literature, as their main focus is applied linguistics. But, if you turn towards other Asian countries, literature graduates do not lose out to applied linguists since they give equal weight to literature. In India, for example, [English] literature is primary, the applied side is secondary. in Britain,US and Canada, literature is highly valued, but in jobs they give preference to their own university graduates. In many African countries too, literature holds sway. It is mainly the Middle East which has sidelined English literature, for their own reasons and needs, of course.

So my game theoretic instincts suggest that if we confine our recruitment efforts to people in the lower half of the degree ladder we shall have an exclusive appeal to a large body of people no less valuable than anyone else. And such people will be far more loyal hires, since we won’t be competing for their attention with deep-pocketed pimps in investment banking.

The logic is inarguable: the best people to hire (or date) are those undervalued by the market.

I believe yes they have a chance in the market. Surely they have possessed skills during their college time that are required in today's' job market.   

yes they have a good chance to hiring better that other from other language