The quantitative easing or devaluation of the dollar inflates the nominal value of assets. It takes more dollars to buy the same asset. The rise in the stock market is an artificial consequence of QE and not necessarily a good sign. The same effect is seen in the price of imported commodities, e.g., oil.
In fact, you highlight why QE yields a rising stock market while simultaneously killing jobs. QE pumps up the value of assets, so long as you keep inflating. It won't end well.