Yeah, it stinks but you ALWAYS need to look for a job.

You searched and searched and searched, and finally feel pretty sure that a company is going to make you an offer. The interviews have gone well, maybe they’re even checking references. You run out to get a nice bottle of bubbly and wait for the good news.
Only, it doesn’t come.
Within the past 2 weeks alone, I’ve had this happen to my clients and even met someone who was offered a job, but had the offer rescinded before they started. The unfortunate thing is that all of these people put off making additional contacts because they were waiting for the big call. Completely understandable, it’s a tough job market and looking for a job totally stinks, but the time to stop job searching and networking is, unfortunately--never.
Here’s why you need to always be on the hunt:
1. Having multiple job offers is never a bad thing. If you’re working with one company, but they’re moving with the speed of molasses flowing uphill, you can nudge them along by letting them know you’ve received an offer from another firm, and while you’re very interested in working with them, in this economy, you’ve got to pay the bills. Everyone knows the state of the economy, and if this gets them to tell you the real story (maybe funding for the position is iffier than they were conveying), then it’s best you know that now before waiting for an offer that won’t come.
2. Lost opportunities rarely come back. If someone has brokered a networking introduction for you with a good job lead and you don’t follow up on it immediately, you make your friend look like an idiot, and, should you call the hiring manager few weeks later about that job, it definitely sends a message that they are your second choice. You lose either way. The trust of a friend, and a job opportunity, which puts you’re back to square one. Follow up on every lead. Always. Even if you’ve accepted another job. In talking to the hiring manager, you may know someone else who would be perfect, and voila, you’ve just turned your good fortune into someone else’s.
3. Building your network of contacts is always time well spent. Once you land in a new job, you’re in an even better position to help someone else. I firmly believe that those who will weather this downturn the best, are those that reach out to help others, and those who ask for help. There is no longer a stigma to being out of work—everyone has learned that their job fate can turn on a dime. By keeping your toes in the networking pool and helping people to make connections, it will come back to help you in ways you can’t anticipate. However, if once you get your job you shut down your job search, reaching-out mindset, you’re essentially turning your back on those people whom you could help. You’ve been there. You know what is helpful and what is not. Give to those who are in transition something that will help them.
Maybe you’re sitting there saying, ah, that’s not me. Once I get my next job the company will be completely downturn-proof, I’ll totally LOVE my new boss, I’ll be challenged to my utmost every day, receive regular promotions and nice raises, there is NO way I will even have the time to keep up with networking—I’ll be too DARN HAPPY!

I’m going to totally go on a limb and say that this was probably what you were thinking when you accepted your last position.