Tradebook uncertainty is large. Hiring managers get their layoffs done then wait for the market to settle. That is the quantization effect from tradebook uncertainty,io \t sets the minimum quant distance needed to get the next significant price. Th labor market needs intermediaries, and when a requant happens those intermediaries have to gear up.
The cost of a repricing, menu costs, is high for labor. Menu costs is known mathematically as quantization noise, chemists have something similar as do physicists. Quantization is real everywhere because it allows adiabatic change, the ability to flow bit error through the system with a minimum of transactions.
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