1. It seriously depends on what you are studying in your Bachelor of Arts.
For instance, some units such as Journalism lead to more concrete future career prospects. Many BA students often study Arts along with a double degree, such as Arts/Music, Arts/Science, or a popular one is Arts/Education so that they have more options. I think that Arts/Education would be awesome, because not only are you taking in new information but you are learning how to teach it at the same time as opposed to completing a Bachelor of Arts, then tacking on a Diploma of Education (quite a common pathway for teachers) at the end of your course. Alternatively you can study "breath" subjects outside of Arts because it is so flexible. Correct me if I'm wrong, but you can study Law subjects such as criminology to add to your bank of knowledge. It's so flexible, but choose Arts for your passions but not about "oh I'll choose Arts because I don't know what else to study and I may as well go to Uni". Students can even tack on additional diplomas, further study, Masters, etc. The possibilities are endless. You still need some sort of direction, even if it's small, but think of Arts as following your passions.
2. I'm not sure, but don't let that get you down. Speak to current Arts students, or even ones who've just finished their course. If you have an inkling about what you want to study in Arts, go to the Uni's website and start absorbing information. You can always change your preferences because the course is so flexible. Definitely those who tack on additional "qualifications" would seem more likely to find employment, but don't quote me
3. It all depends on so many factors! What you are studying.... the contacts and networks that you make..... but don't let this discourage you! Time to become best friends with your careers counsellor!