Jewlery is shared between classes, and drops for each class, however it drops more frequently than weapons. As such, players will have an overabundance of jewelry which is only useful for salvaging, and a lack of weapons.
This is very noticable for red items; I currently have 20 red jewelry items, and 14 red weapons. I only use 8 of the jewelry items, making 12 of them useless, which is a sad fate for such rare items.