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It is a way till now in addition to networking ( Is the best and easiest way to find job ) and the most companies now ask you to send your application throw their website ..so you have to use ineternet to find job ..You can use an other way which is smart applications job finder , like LinkedIn , Bayt , Viadeo..etc on Smartphones ( IPhone, Galaxy ..)
Yes a majority of employers hire and post jobs online. So you need to be where there are employers.
Check out our blog on job searching via. online here: http://blog.bayt.com/2013/11/the-job-hunting-toolkit-part-i/