Importance of Social Networks in a Job Search

We've all heard it before, but here's statistical proof:

We find that contacts' current employment rate has statistically significant effects on unemployment duration: a one standard deviation increase in the network employment rate reduces unemployment duration by about 8 percent; as a benchmark, a one standard deviation increase in own wage at displacement is associated with a 10 percent lower unemployment duration.

Every job that I've had I got through someone I know. From my first job at McDonald's 10 years ago to my current job teaching high school, a contact has helped me at least get an interview. This suggests that we should look out for our contacts, because we are a huge part of their employment. This could also be another unexpected benefit of going to college, having friends who have jobs. It's also another reason why missionary dating (not what you think) can be so important. Who we know greatly influences our future income and sadly the poor are limited in their social sphere. On the bright side, Facebook and other social networking sites should help connect us more and keep transitional unemployment lower.