Overall Simulation Outcomes
Figure 1 shows the match between education prevalence rates by age calculated from 1996 CPS micro-data (left-hand-side chart) and simulated education prevalence rates for that year. In both charts, a high share of those aged 20 and younger have high school or less education. The shares of individuals in these two education categories drop sharply for those older than age 20 who have “some college level of education".
Running Figure 1’s charts forward (1996 through 2016) reveals that shifts in the simulated education category prevalence rates closely correspond with those calculated from CPS micro-data. Running the simulated chart beyond 2016 shows
PWBMsim’s projection of education prevalence rates when transition rates are maintained at their 2016 levels.