Sure. But stocks are and have always been a 1% thing. Calling it a reflection of the economy is basically Austrian supply-side economics, especially when the number of employers offering 401k schemes as benefits has been shrinking for 30 years.
In the entire time I've been an adult, a good day in the stock market didn't result in a wooden nickel's worth of more food on my table.
Speaking for most people I know, our complaint about the economy wasn't that the stock market wasn't high enough - it was that having a full-time job wasn't paying for housing, healthcare, education, and food.
Talking about the jobless rate is fair enough because that's important too, but the stock market was always the wrong metric by which to measure any presidency, blue or red, because if anything, it's too easy to artificially inflate the shareholder value exactly by sucking the value out of your employees' paychecks.