There's a lot of comments here saying that you need to "get some perspective", but I recently got into the exact same situation, and have had some of the most terrible months of my life.
Before this year, I had never been turned down for any job I interviewed for. Now, I'm getting rejection after rejection, and it's shattered the confidence that I could apply my skills to benefit society, and generally made me feel worthless. The thought of being broke doesn't keep me awake at night, but thinking that I might be useless does.
It was painful having to send out my first job application (because I'd gotten every other job through my network), and my confidence was so low that I applied for jobs that were way below my skill level. Not getting them made me feel even worse, and I quickly got into a downward cycle.
After a couple of months, though, my initial panic started easing, and I've had a chance to get a better perspective on work and life. I've found that I can stretch out my money a lot farther than I imagined. People are a lot more willing to help me out than I thought. Instead of using the downtime to worry, I can spend it learning new things.
And, most importantly, I've learned that it will take patience to wait for the really worthwhile opportunities.