The U.S. economy lost more jobs last month than expected amid a summer hiring slump, marking a sharp slowdown from the month before. The U.S. economy lost 23,000 jobs in July, a sharp miss from economists’ expectations of a 90,000-job gain, according to a new jobs report released Friday by the Bureau of Labor Statistics. Goldman said pay growth has fallen below the 3.5 percent inflation rate, reversing a longer stretch in which wages outpaced price increases. He described the market reaction as counterintuitive – falling odds of a rate cut were being read as a positive signal for investors, even though the underlying cause is labor-market weakness. – YouTube youtu.beThe post ‘Significantly worse than expected’: Tanking jobs report stuns CNN analyst appeared first on Raw Story.