Is now a good time to passively look for a new job?

My thought is given the market has a huge capacity of folks who have gotten laid off (i.e., you have an advantage as someone who is employed) is it a good time to passively look for a new job? You also insulate yourself somewhat should the worst happen and you get laid off as you would already be in the market with (hopefully) some employment prospects. Just looking for general thoughts and get people thinking ahead in case 2H takes an even worse turn fee wise.

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Awful time to be looking… not many people are hiring and we get a ton of applicants for every position given the layoffs and economic uncertainty. People that have been laid off are not necessarily viewed negatively if they do well in interviews / case study and reference extremely well (I.e. can demonstrate it was not necessarily performance based).

 
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