NEW YORK (CNN) - The Dow Jones Industrials gained 260 points today... and that's certainly a positive development. And a welcome one. It would be nice to be able to cheer about it all night. But it's too early to think there's no need for concern about both the market and the economy.

The president said as much when he talked yesterday about tough economic times. And today we found out business inventories rose in July, for a second straight month. Another indicator of less than stellar growth in the economy. And IBM, Agere, Ames, American Airlines and others have announced tens of thousands of layoffs.... A day after the government reported higher retail sales in July, Ames announced it's just plain quitting... laying off more than 20,000 people, and closing all of its more than 300 stores.

It now appears that employment levels are again dropping, after holding steady last month. That is a considerable threat to consumers who are already heavily burdened with debt. There's no more dramatic evidence of that burden than the record number of personal bankruptcies over a 12-month period... almost a million and a half personal bankruptcies in the year ended June 30th.

President Bush today said he would do whatever it takes to help the economy... the greatest need for that help rests among working men and women in this country. I hope the president will focus on doing whatever it takes to help them. They'll solve the rest of the problems.