International Journal of Financial Management and Economics
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E-ISSN: 2617-9229|P-ISSN: 2617-9210
International Journal of Financial Management and Economics
Printed Journal   |   Refereed Journal   |   Peer Reviewed Journal
International Journal of Financial Management and Economics
Vol. 2, Issue 2 (2019)

Population dynamics of unemployment in a recessed economy: The Nigerian perspective


Aghanenu Odogwu Emeke and Jenije Richard

This work builds and analyzed a new mathematical model that investigates the impact of economic decline on the dynamics of unemployment during economic recession (which according to this study is for 12 months). Mathematical analysis reveals that the model is both locally asymptotically stable but globally asymptotically stable with a condition. Theoretical analysis shows that a decline in economic activities affects the rate of unemployment negatively. We simulated our models with two scenarios; the rate of economic decline was taken to be 0.0158 (1.58%) and 0.00158 (0.158%). The results revealed that the rate of economic decline determines the rate of negative effect on unemployment as well as the rates of lay-offs in public and private sectors. We recommended the need for individuals to become self-employed as part of government intervention strategy during this period.
Pages : 06-15 | 552 Views | 255 Downloads
How to cite this article:
Aghanenu Odogwu Emeke, Jenije Richard. Population dynamics of unemployment in a recessed economy: The Nigerian perspective. Int J Finance Manage Econ 2019;2(2):06-15.
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International Journal of Financial Management and Economics