The U.S. Latino unemployment rate has declined based on the Bureau of Labor Statistics' August report, but the number of people employed and not in the labor force depicts a different picture.

According to the August report, 7.5 percent of Latinos are unemployed, or 1.9 million people. In comparison to July's report, 7.8 percent of Latinos were unemployed. According to the National Council of La Raza, "unemployed" refers to individuals who are available to work, have made an effort to find a job or are expected for a call back from a layoff but are not working.

Among Latinos over the age of 16, 23.5 million are working or temporarily absent from their jobs. The total sum of Latinos unemployed and employed, or part in the civilian labor force, is 25.4 million. However, 13.1 million Latinos are categorized as "neither employed or unemployed."

"The latest report from the U.S. Department of Labor shows lower-than-average employment growth in August compared to the last 12 months, but better outcomes for Latino workers who benefitted from job growth in key industries," noted NCLR's "Monthly Latino Employment Report."

The Latino unemployment rate decline has been attributed to job growth in job sectors with relatively high Latino participation. Industries such as administrative and waste services, which gained 23,000 overall employees including other ethnicities, food services and restaurants with 22,000 hires and construction adding 20,000 workers.

The employment situation appears to be "troubling" for millennials, particularly minorities, between 16 and 30 years old. Latino millennials risk underemployment, "which includes individuals who are out of work, working part-time but would prefer full-time work, or gave up searching for a job but are still available to work," according to NCLR.

Millennial underemployment among Latinos between 17 and 20 years old with a high school degree was 41.9 percent, higher than whites' 36.8 percent but considerably less than blacks' 56.6 percent.

The underemployment rate decreased for Latinos between 21 and 24 years old with a bachelor's degree with 16.3 percent, compared to whites' 15.8 percent. Blacks in the same age group and degree had an underemployment rate of 25.5 percent.

Based on NCLR's calculation of the 2012 American Community Survey, 34 percent of Latino males between 16 and 19 years are unemployed, while women in the the same age group were at 31 percent. The unemployment rate declined as the age groups increased. Fifteen percent of Latino males between 20 and 25 years old are unemployed.

The U.S. Latino unemployment rate saw its first decline following increases since May. In August 2013, the seasonally adjusted Latino unemployment rate was 9.3 percent. Meanwhile, the overall U.S. unemployment rate is 6.1 percent, down from July's 6.2 percent.