Students are very adept at social networking, but do they understand how to network for jobs? I think they need to be adept at a few different types of networking. First of all, there's working the network on their own campuses. Students should seek some time with their (favorite) professors, especially those having similar interests. Professors do research and write articles; at some schools, they may combine their jobs in business or industry with teaching. Students should also remember that professors are important sources of recommendations.
As students get used to the world of work, particularly through internships, their network grows. They should keep in touch with former employers, paid or unpaid. My son, a college sophomore, put up his first LinkedIn page this year while working in a summer internship. He's able to connect with fellow interns and students as well as previous or prospective employers.
Another source of networking is through student activities. Faculty advisers and fellow students are wonderful sources of leads.