No matter where in the world you are, don’t expect a raise anytime soon: Despite employment growth in the developed world, growth in pay is confounding the predictions of global economists, Cesca Antonelli and Christopher Cannon write for Bloomberg. In Germany, which boasts strong unions, record-low unemployment and booming exports, annual wage growth since 2013 has only averaged 2.1%. Japan, where unemployment was near a two-year low, earnings rose 0.7% in May — and that was the biggest increase since July 2016. Even China, which used to record wage increases of 10% or higher, has seen them significantly reduced of late. A possible explanation could be found in the US, where the employment-to-population ratio continues to slump to below where it was in the last recovery. Data appears to indicate that there some ways to go before we can expect wages to go up.