It does a bit. But if the hole went straight through the planet, you'd have some interesting consequences.
Suppose you dug from the north pole straight through to the south pole and then stepped in (you might want to do this with a friend waiting for you at the edge of the hole). Travelling staight and with nothing to bump into, you'd accelerate towards the centre of the Earth, and with your friction-free magic suit that negated air resistance, you wouldn't reach terminal velocity. You'd get faster and faster until you reached the earth's centre travelling at about 24,000 miles per hour. Then you'd start to slow down until you reached zero velocity at the point where your centre of mass was exactly the same distance outside the south pole exit as it was outside the north pole entrance when you stepped in. The only difference would be that your head would be right next to the hole with your feet sticking up in the air. Then you'd immediately fall back in the opposite direction, head first, go through the centre at 24,000 mph again and eventually reach a stop in your exact stepping off position at the North pole, where that friend would now come in very handy by grabbing hold of you to stop you repeating the two way trip for all eternity. The round trip from north pole to south pole and back again would take just under 1 hour and 14 minutes.
