I hear you DonPE. I too have had companies dissappear from under me, and have been laid-off suddenly in the past. Knowing and being told you are a key employee is no guarentee either.
Even though I have been happly employed at my current employer for four years, I take a few minutes every evening to surf the job web sites just to see how many hits I get with certain skills, to keep tabs on how well the market is in different parts of the country, and to follow potential employers to learn as much about them as I can. I always want to know where the handle is on my reserve chute!
The job market does not vary by the region, but by the major metropolitan area. A company that suddently adds a few engineers in a place like - say - Tampa, may do so by acquiring some of those people locally. That will in turn make those companies replace lost employees and you will see listings over a few month period.
There is always what is called the "hidden" job market. Companies will have a unfilled need and will wait for opportunity to come along to fill it.
In addition to sites like 'careerbuilder' and 'monster' try ones like 'flipdog' which is a site that searches company sites for job listings. Do what monkeydog suggested and browse papers in another city.
Over the long hall, acquire some additional skills in RF design, analog design, etc. A varied skill set doesn't necessarly help at the big company where a job may be very specific, but helps at the small company where the engineer may be asked to solve all sorts of design issues. I work at a small company that is a division of a major corporation - small company does not necessarly mean a garage shop.