(Without seasonal adjustment, the actual estimate of unemployed in January was 13.2 million.) The BLS does not seasonally adjust its estimate of discouraged workers who have left the labor force, an estimate that was 804,000 in January. For more on the employment situation in January, see Bureau of Labor Statistics (2013).
6  In my view, and as I’ve argued elsewhere (Yellen, 2013), the evidence indicates that elevated unemployment and the disappointingly slow improvement in the labor market are primarily the result of weak aggregate demand and not an increase in structural unemployment.