June 24, 2014 / 9:40 AM / 6 years ago

BoE's Carney says more slack in UK labour market than thought

Mark Carney, Governor of the Bank of England, speaks at the 'Lord Mayor's Dinner to the Bankers and Merchants of the City of London' at the Mansion House in London June 12, 2014. REUTERS/Peter Macdiarmid/Pool

LONDON (Reuters) - Bank of England Governor Mark Carney said on Tuesday there appeared to be more slack in Britain’s labour market than previously thought, though the economy had picked up more strongly than expected.

Speaking to British lawmakers, Carney said that data on British wages had come in softer than expected.

“Taken in isolation the continuation of development on the wage front suggest to me ... that there has been more spare capacity in the labour market than we previously had thought,” Carney told British lawmakers.

But he said this should be balanced against stronger than expected growth and momentum.

Reporting by Andy Bruce: editing by John Stonestreet

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