Dynamics of a simple mathematical model for unemployment with time delay

Abstract A three-dimensional mathematical model is analyzed in order to study the labour market, with an emphasis on unemployment, employment and the number of open positions. The rate of change of new positions created by the public and private sectors depends on the historical levels of unemployment, taking into account the distributed time delay. The non-dimensional mathematical model is done and the existence of the equilibrium points is examined. The findings related to the positivity and boundedness of solutions are presented. In addition the global asymptotic stability of the positive equilibrium is provided. The theoretical results are exemplified by the numerical simulations.