Even though hiring nationwide is on a definite upswing now, so many jobs were eliminated, outsourced or converted to part-time positions during the economic downturn, recruiters are more focused on job skills and experience gained rather than tenure earned with a single employer.
This is particularly true in fields like information technology, where acquiring skills is critical, or advertising, which has always been subject to the whims of an agency gaining or losing accounts. For older workers, say 55+, a stable job history is still more marketable on paper.
The flip side to that is employees who have stayed for too long with a single company and may be less flexible in a changing workplace. The moral of the story is for job seekers to emphasize knowledge and skills they have gained; show flexibility to make a change while demonstrating some history of stability; and, as always, to express a strong interest in working for the company they're targeting.