Mathematical Model for the Control of Unemployment on Ghana’s Labour Market
Unemployment is one of the major socioeconomic issues across the globe in which Ghana is no exception. The unavailability of jobs and its creation as being searched by persons belonging to the labour force actively looking for jobs makes the problem escalate rapidly in a growing economy. In this seven state model, we analysed into the three main economic sectors of Ghana to investigate how unemployment, employment, and newly created vacancy creation behave at equilibrium on the three economic sector levels. Moreover, we analysed how in a specific sector, the dynamics of the state variables control unemployment. Further analyses on the parameters indicated that, an increase in the rate of newly created vacancies results in a decrease in the number of unemployed persons and an increase in the number of employed. We assumed that a jobless person who is available for work but fails to make an effort to seek work is not part of the unemployed class among others. It was established that the model has one nonnegative equilibrium point. Lastly, we analyse the impact of perturbation of some parameters on the number of the unemployed and employed persons at equilibrium.
T. F. Bresnahan, Computerisation and wage dispersion: an analytical reinterpretation, The Economic Journal 109(456) (1999), 339-376. https://doi.org/10.1111/1468-0297.00442
J. Manyika, M. Chui, J. Bughin, R. Dobbs, P. Bisson and A. Marrs, Disruptive technologies: Advances that will transform life, business, and the global economy, McKinsey & Company, 2013. https://www.mckinsey.com/capabilities/mckinsey-digital/our-insights/disruptive-technologies
Ghana Statistical Service, Integrated Business Establishment Survey: National Employment Report, 2015. https://www2.statsghana.gov.gh/
E. Aryeetey and W. Baah-Boateng, Understanding Ghana’s Growth Success Story and Job Creation Challenges, WIDER Working Paper 140(1) (2015). https://doi.org/10.35188/UNU-WIDER/2015/029-4
Ghana Statistical Service, Population and Housing Census Press Release Provisional Results, In: Population and Housing Census: Provisional Results, Retrieved on: November, 01, 2021. https://statsghana.gov.gh/
Sustainable Development Goal 8, United Nations, 2016. https://sustainabledevelopment.un.org/sdg8
J. E. Brand, The far-reaching impact of job loss and unemployment, Annual Review of Sociology 41(1) (2015), 359-375. https://doi.org/10.1146/annurev-soc-071913-043237
D. E. Bloom and R. B. Freeman, The effects of rapid population growth on labor supply and employment in developing countries, Population and Development Review 12(3) (1986), 381-414. https://doi.org/10.2307/1973216
A. B. Kazeem, S. A. Alimi and M. O. Ibrahim, Threshold parameter for the control of unemployment in the society: mathematical model and analysis, Journal of Applied Mathematics and Physics 06(12) (2018), 2563-2578. https://doi.org/10.4236/jamp.2018.612214
Institute of Statistical, Social and Economic Research, Only 10% of graduates find jobs after first year – ISSER, 2017.
G. Pathan and P. H. Bhathawala, A mathematical model for unemployment with effect of self employment, IOSR Journal of Mathematics 11(1) (2015), 37-43.
This work is licensed under a Creative Commons Attribution 4.0 International License.