The economy isn't recovering if people don't have jobs. Because as much as you cut workers to become profitable, if that same thing is happening all over the country, the amount of goods and services purchased will be reduced overall because no one will have the money to buy anything.
It will become a cycle of cutting. Demand for goods and services will go down, not just because people are out of jobs, but because fear of losing a job will tamp down demand. Then more workers will have to be fired to make businesses profitable again.
What really counts is employment, not the numbers on Wall Street or overall business profitability.
A lot of upset people out of work means political and social upheaval. Get ready.