I care a lot more about the job market than the Dow.
The problem is that the two are interconnected more than people think - especially nowadays and especially with regards to crashes.
For example, a 500+ point crash as we were having back in September/October directly correlates with the loss of say 100K or 200K jobs in the US.
The stock market is up during the Obama administration, but I don't see that helping with jobs. 1.3 million have been lost in the last 2 months, while a quarter million should have been created just to keep up with growth in the labor pool. 1.5 million jobs short in 2 months is terrible.
There is no correlation where a 500+ gain = gain of 100K or 200K jobs in the US.
I understand your concern, but you can't just create jobs for the sake of creating jobs.
There is presently a major oversupply in labor in the US fwiw, and generally that labor is overpaid compared to the global wage rate. All of this will correct itself over time - it would have happened long-term anyway, but the process is going to be sped up due to massive deleveraging.
You realize that if the current system really can't handle giving out jobs to most qualified people, people are going to be looking for a new system? Worker productivity keeps rising in the US, while wages stay the same or go down. France has a 35 hour work week, while a lot of positions in this country require 50+ hours of work a week.
