Other MPs in new roles include Melanie Onn, the former shadow deputy leader of the House of Commons, who joins Lloyd as a new shadow housing minister.
Labour has performed strongly in polls following last month's general election with a Opinium survey for the Observer putting the party at 45 per cent, compared with 39 per cent for the Tories, while a poll by Survation had the Tories on 41 per cent and Labour at 40 per cent.
But there is no place in the reshuffle for Wigan MP Lisa Nandy who herself stood down as a shadow minister previous year and backed Owen Smith's failed bid to depose the Labour leader.
Labour unexpectedly eroded the Tories' Commons majority in last month's General Election after Mr Corbyn pledged to scrap tuition fees, which are now capped at £9,250.
Labour said further appointments would be made "in due course".
Catherine West, Andy Slaughter and Ruth Cadbury were all sacked from the frontbench after joining rebels to vote for the amendment to the Queen's Speech calling for the United Kingdom to stay in the single market after Brexit.
Yvonne Fovargue is back on Jeremy Corbyn's front bench - just over a year after she quit it. Loyalists from the party's left and several members of its new intake have also been rewarded in 20 junior appointments that he said was "further evidence that Labour is not just the opposition" but "the government in waiting".
A number of prominent MPs who served in the shadow front bench under Miliband and Corbyn before the leadership challenge, including Angela Eagle, Chuka Umunna and Dan Jarvis, had indicated they would be willing to return to the front bench.
"Labour's Treasury team meets every week and I will also represent the Shadow Cabinet in debates on Treasury issues".
Mr Lavery, who helped orchestrate Labour's election campaign, has sparked fears of a purge against the party's moderates.
Mr Corbyn told the crowds the "Tories are in retreat" and that Labour was the Uk's progressive party.
He said: 'We are a broad church.
'Being an MP, I haven't got the divine right to be an MP for Wansbeck.
In an interview with the Huffington Post published at the weekend, he warned that no Labour MP has a "divine right" to keep their seat.