The US economy is still suffering from considerable unemployment as measured by the broadest government unemployment indicator: U-6. Wages rose by only 2 cents in June 2016. indicating little wage pressure.
U-6 is often called the real unemployment rate. U-6 includes the unemployed, discouraged, marginally attached workers plus the underemployed. All groups who would work or work more if jobs or hours were available.
U-6 has been below 10% since October 2015.
Unemployed(U-3) -- unemployed and actively looking for work in the past four weeks. This is the official rate.
Discouraged workers --are workers who believe there are no jobs available for their skills and are not looking for work but would work if they could get it.
Marginally Attached Workers - are workers who are not working but would work if they could get it and looked in the past 12 months. Marginally Attached includes discouraged workers.
Underemployed - Workers who are working part time but want full time work.
Recessions are show in grey.