I think the general idea is that an extra language won't help you in the English speaking countries. It is certainly different in other European countries where another language is required, e.g. French (AF), German (LH), Dutch (KL), etc etc, don't speak the "lingo"..no job, so I would think yes, you are advantaged if you speak the language.
One that comes to mind right away where the language isn't required but might help: DHL at Leipzig, I believe their recruitment site says "German would be advantageous".
P.S. edited to add: agree with MartinCH, generally language required means fluent knowledge not "scholastic grasp".