The Labor Market Was Expected To Add Over 80,000 Jobs. It Has Shed More Than 20,000

The U.S. economy unexpectedly shed 23,000 jobs last months, according to the Bureau of Labor Statistics. (Credit: Justin Sullivan/Getty Images)

The U.S. economy unexpectedly shed 23,000 jobs last months, according to the Bureau of Labor Statistics.

The figure stands in sharp contrast with the 83,000 jobs analysts at the Dow Jones expected the market to add. Figures for May and June were also revised downward. The 12-month average now stands at 34,000.