Nearly 22 million Americans remain unemployed or underemployed.

The U.S. Bureau of Labor Statistics announced today that the national unemployment rate dropped to 7.4 percent in July from 7.6 percent in June. The number of unemployed persons dropped by 263,000 to 11.5 million. Over the course of the year, unemployment and the unemployment rate are down by 1.2 million and 0.8 percentage points,...

The U.S. Bureau of Labor Statistics announced today that the national unemployment rate dropped to 7.4 percent in July from 7.6 percent in June. The number of unemployed persons dropped by 263,000 to 11.5 million. Over the course of the year, unemployment and the unemployment rate are down by 1.2 million and 0.8 percentage points, respectively.

U-6 unemployment, the broadest measure of labor underutilization, dropped to 14 percent in July from 14.3 percent in June. The U-6 includes not just the unemployed, but also people working part time while seeking full-time work, as well as unemployed people who haven’t looked for work in the past four months but have sought employment in the past year. Nearly 22 million Americans remain unemployed or underemployed.