Agile software development process (Scrum).
It seems that Scrum is assumed to be new panacea, used in each and every small company, as well as many big ones. If you are a fresh graduate, be prepared to tell that you used Scrum (or at least XP) for your university projects.
Java Enterprise Edition, including Struts, Spring, and Hibernate.
Non-Java developers are criticizing Java EE for complexity and slow performance, while the others are hypnotized by all the advanced features and the relative newness. If you are a Java developer, get updated with the new features. If you are not, leave it until you really need.
Microsoft solutions are still popular, possibly, even more now with .NET. Often, a long list with Visual Studio, C#, ASP.NET, AJAX, combined with data connection (MS SQL server), OLAP, and much more.
Knowledge of iPhone application development, Symbian, and Java ME can be very helpful on the way to your new job. The first one is especially hot. If you have an enterpreneurial attitude, developing and selling your own iPhone applications can be not only fun, but also a source of income.
Increasingly popular, fast to code, and has a wide range of applications. If you are free to chose your language, start warming up with Python.
SQL is required in most development jobs, though DBMSs vary. MySQL, MS SQL and Oracle are the most common ones. If you are a .NET developer, opt for Microsoft.
A buzz phrase that does not say much anymore, but there is no job add that leaves it out. Make sure you can impress recruiters by giving good examples on why you are a good team player, be convincing and original.
If you are already hunting for a new job, read how to write a good cover letter, and how to prepare for a phone interivew.