Since the launch of ChatGPT in November 2022, the S&P 500 has climbed more than 70%, while job openings have fallen by roughly 30%. The visual contrast became known online as the “scariest chart in the world,” symbolizing a growing fear: that productivity, profits, and growth may no longer require proportional human employment.The data itself is real. Job openings peaked at 11.5 million in March 2022, the highest level since tracking began in 2000. By August 2025, openings had fallen to about 7.18 million. Over the same period, the S&P 500 rose from roughly 3,840 to nearly 6,700.
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