Most of us have had to deal with the passing away of a loved one. If you've dealt with this situation, you know how good it is when the person who died left a last will and testament explaining how he/she wished for things to be handled following his death. For the most part, it makes things run so much smoother and helps details fall into place during a very stressful time.
Not to sound morbid, but a resume is very much like a will. You don't want to be caught unprepared. The economy is on shaky knees and the layoffs are already starting to occur with Yahoo releasing the most employees since the dot-com bust of 2001. Starbucks has halted progress toward opening 300+ new stores across the nation. Companies who are watching profit margins and stock values fall are doing what they always do - cutting labor forces. We are just beginning to see the start of this and it is predicted to get worse before it gets better.
NOW is the time to get your resume and cover letter prepared. You do not want to be caught flat-footed in a layoff situation without a resume prepared and ready to go. In fact, it would be a good idea to get your network warmed up again. Job search is not something that is easily started from a stand-still. You want to be constantly testing the waters and be open to opportunities, not to mention ready for any eventualities.