Yes, unemployment is still high. And yes, foreclosures are high, too. The economy still sucks.
That's exactly why Dow 10,000 is important. It's a sign that things are improving slowly but surely. But not just a sign for people struggling to find a job or to pay their mortgage, but even more so for the people tasked with determining whether to resume hiring and spending money on jobs. That's why they call the Dow a leading indicator.
At the risk of appearing sappy, Dow 10,000 is a sliver hope for a break in the gloom. I think we all understand that it's not The Economy and that Americans are still hurting, but I think seeing our 401(k) statements and mutual funds improved by 50 percent since February helps. I think knowing that the corporations who trade their shares in the market are feeling better also helps.
And that's the answer to the question: "So what?"
Adding... According to Krugman (coming this fall to ABC!), the economy is growing again by upwards of 5 percent. And if that continues, we'll be back to 7 percent unemployment within two years. Another sign for hope.