I always suggest to students that they ask residents and attendings on interview days where their former residents have gone on to work and to what fellowships they have sent people.
Getting a job in the real world is all about connections.
All residency programs will have local connections. Some residency programs have a broader geographic base to which they send graduates. If you have no idea where you want to go or what you want to do, I suggest people strive to go to a program with a big reputation nationally and that sends people to jobs nationally. But if (for example) you know you will work the rest of your life in Arizona, it's probably in your best interest to do residency in Arizona.