There's a lot of value in playing musical chairs. The market is pretty good at allocating human labor. Some companies get left without people in the seats and others, often the more innovative companies end up with more than they had before.
A labor market with high liquidity leaves most people better off.
The labor market can go fuck itself if it doesn't serve the people, IMO. People aren't just for creating "value." They have lives. If the economy doesn't work for people, it just plain doesn't work. Not everybody wants to change jobs all the time. Those people don't deserve pay cuts for providing the same "value" they provided a year ago.
A labor market with high liquidity leaves most people better off.