If you're about to apply for jobs and this isn't your first job, the most important thing you can do is grind interview problems. I haven't had any GitHub activity for the last year, don't have a personal site, and have had no problem getting job offers. At the end of the day, I've found that most interviewers will make a gut decision about you based entirely on your interview performance - the ones who factor in other things are rather rare.
Why not both?
Oh, I'd definitely say both! But, I feel that a lot of my most compelling work in on my GitHub (mostly OSS contributions), rather than on my website.