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The economy is growing — so why does your paycheck feel like it's shrinking? GDP is up 3.4%, unemployment is near record lows, the stock market keeps hitting highs — and yet it doesn't feel good. On this Halloween episode of Off the Clock, Justin Wolfers and journalist Stacey Vanek Smith dig into the "Jekyll and Hyde economy," where the pie is growing but a bigger slice is going to owners instead of workers. Justin explains why the average real wage can fall even as most of us still get raises (hint: you move up the building one floor every year), why that stops working when hiring freezes up, and what it means for you when a company like Microsoft posts record profits and cuts 60,000 jobs the same week. They also walk through this week's data: the Fed held rates steady before the election, an AI simulation of the Fed got the vote mostly right, and your Halloween candy costs 70% more than five years ago, with chocolate prices more than doubled. The honest stakes: with inflation now outrunning average wages and the job market the slowest in decades, the way you land — or switch — your next job matters more than ever. Justin's read on the headline GDP number? "Meh." Chapters: 0:00 Growing the pie vs. slicing it 2:07 Why Americans don't feel the boom 10:37 AI and the haunted-house job market 16:40 Wages vs. inflation, explained 40:04 What the GDP number really says 45:46 The pie: owners vs. workers 51:19 An AI simulation of the Fed 1:02:31 Costume vs. costume Subscribe: on YouTube 👉 https://youtube.com/platypuseconomics on Substack 👉 https://newsletter.platypuseconomics.com the Podcast 👉 https://platypuseconomics.com/podcast Follow on Social Media @PlatypusEconomics and @JustinWolfers

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