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

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Document pages: 16 pages

Abstract: Unemployment is one of the majorvices in our contemporal society, which weigh greatly on the economy of suchnation. It is also, a fact that knowing ones enemy before battle gives 50 percent chance of victory; thus, this research aimed at providing understanding about dynamics ofunemployment with consideration for retirement and possible control criterion.And the objectives are; formulation of mathematical model using the concept ofdeterministic model and mathematical epidemiology; then, model analysis. The model analysis includes, a numerical semi-analytical scheme for investigating validity ofanalytical 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, assuringvictory in the fight against unemployment was also, obtained. The threshold is required to be well managed in order to win the battle against thesocio-vice (unemployment) in the contemporary society. In addition, variationaliterative method (VIM) is the numerical semi-analytic scheme employed to solvethe model; thus, the approximate solution gave a practical meaningfulinterpretation supporting the analytical results and proof of verdict ofassumptions of the model. The article concluded with three points; everyone hasroles to play to curtail the socio-menace, beseech government and policy makersto look kindly, and create policy(ies) tosustain population growth, and the retiree should also, plan live afterservice, because over dependence on pension scheme could be died before death because ofcorruption in the scheme.

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