Stability analysis of a simple mathematical model for unemployment

Abstract

Unemployment is a highly concerned problem due to its impact on social, financial and political stability of a nation. The problem is complicated by the continual increase of labour forces inclusion combined with limited availability of jobs. In this paper, a simple mathematical model for unemployment is proposed by considering two variables: the number of employed persons and the number of unemployed persons. The assumptions employed to develop the mathematical model are discussed. It is shown that the model has only one non-negative equilibrium. Stability analysis conducted using the Routh-Hurwitz criterion imply that the model has a locally asymptotically stable equilibrium point