Unemployment = 15% Dow Jones up 2% What am I missing?

When people will be rehired, they will earn less than before, because the employee market has ended and employers can once again dictate their conditions.

Don't think so. How many of those companies will survive? How many will have diminished earnings? Too much uncertainty for bullishness. Perhaps its all the money printing. Real estate likely to be down so stocks only place for some returns.