The Efficient Market Hypothesis is an approximation at best, and fails hard at labor issues.
Employee salaries don't fluctuate continuously. In most cases, labor loading - the number of warm bodies paid to be there 9-5 - can't fluctuate much, quickly (with the exception of catastrophic business failure). Salaries and wages almost never go downwards for employees already hired. Etc.
Employee salaries don't fluctuate continuously. In most cases, labor loading - the number of warm bodies paid to be there 9-5 - can't fluctuate much, quickly (with the exception of catastrophic business failure). Salaries and wages almost never go downwards for employees already hired. Etc.