Threshold Parameter for the Control of Unemployment in the Society: Mathematical Model and Analysis

摘要

Unemployment is one of the major vices in our contemporal society, which weigh greatly on the economy of such nation. It is also, a fact that knowing ones enemy before battle gives 50 per cent chance of victory ; thus, this research aimed at providing understanding about dynamics of unemployment with consideration for retirement and possible control criterion. And the objectives are; formulation of mathematical model using the concept of deterministic model and mathematical epidemiology ; then, model analysis. The model analysis include s , a numerical semi-analytical scheme for investigating validity of analytical solutions. The result of the analysis were that: 1 ) the model was mathematically well-pose and biologically meaningful 2 ) two equilibria points exist, and 3 ) a threshold for recruitment from the pool of unemployment, assuring victory in the fight against unemployment was also, obtained. The threshold is required to be well managed in order to win the battle against the socio-vice (unemployment) in the contemporary society. In addition, variational iterative method (VIM) is the numerical semi-analytic scheme employed to solve the mode l; thus, the approximate solution gave a practical meaningful interpretation supporting the analytical results and proof of verdict of assumptions of the model. The article concluded with three points; everyone has roles to play to curtail the socio-menace, beseech government and policy makers to look kindly, and create policy(ies) to sustain population growth, and the retiree should also, plan live after service, because over dependence on pension scheme could be died before death because of corruption in the scheme.