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I've found it useful on a number of occasions, but never for job-hunting... For example, if I'm looking for someone online, and there are several people with that name, I can go to LinkedIn and find the one with the job history I expect, then compare the profile picture and contact information to the other places I'm looking. People have gotten much smarter about locking their Facebook accounts, etc. but most leave their LinkedIn page wide open.
Long story short, it doesn't seem that useful for your situation. But it's also super easy to set up, so there's probably not any harm in it.
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