Unemployed (n = 118) and employed (n = 120) people were contrasted on variables of well‐being, confidence, and employment commitment. The unemployed scored lower on the General Health Questionnaire (Goldberg, 1972) and the General Self‐Efficacy Scale (Sherer et al., 1982). No differences were Identified on levels of employment commitment. For the unemployed sample, predictors of job‐seeking behavior and well‐being were then examined. Intention to seek work predicted job‐seeking behavior, while self‐efficacy, employment commitment, and intentions to seek work predicted well‐being. Results are discussed in light of current theories of job seeking behavior, and recommendations are made for practice.