Either way, start searching EARLY. It takes a while.
If you don't do a residency you will be an unemployed pharmacist. If you do a residency you will be an unemployed pharmacist that did a residency.
The benefit of not doing residency is that you started off as retail pharmacy and your salary is high (as resident your salary for the first or second year won't be that high, don't know exact number), the benefit of doing residency is that this is the only way to get certification nowadays for advance practice in the hospital and hospital job only want resident pharmacist so if you really want to work at hospital then do residency!