Yep....maybe the "friend" should be more active in helping your friend look for a job, rather than merely ask him if he has a job yet.
Who knows about the "hang out" part? If the "friend" truly is stating that he'd like to hang out with your friend more, then turns around and cancels frequently, then there might be something wrong--or maybe the "friend" is just unreliable, has poor executive function, can't plan his/her life, etc.