Track: Modeling and Simulation
Abstract
In this paper, a nonlinear mathematical model of unemployment is described and analyzed for reduction of unemployed persons using two controls ‘creation of new vacancies’ and ‘skilled manpower’. For maximization of the number of employed people at the end of implemented policy, we find the control profile of two controls using Pontryagin’s Maximum Principle. This study concludes two effective controls so that the number of unemployed persons at the end of implemented policies of the government is minimized while minimizing the systematic cost of policy making. Our numerical results as illustrated in the figures strongly agree with the analytical findings.