It’s the apprenticeship
Use new apprenticeship registrations as a leading indicator for apprenticeship completions.
Look inside the “black box” of apprenticeship.
We apply historic transition probabilities to the stream of new apprenticeship registrations.
We derive these transition probabilities based on Kaplan-Meier (non-parametric) estimation of historic survival data.
The main assumption is that these transition dynamics are stable over time
… likely to fail if government policy changes in a meaningful way.
The arrival rate of new registrants is the constraint on the “production” of Journeypersons.
“Production” scales up/down with the arrival rate of registrants, without changes in attrition or delay.
Proportion that complete | Apprenticeship Duration | |
---|---|---|
(Intercept) | 0.306*** | 23.583*** |
(<0.001) | (<0.001) | |
log(cohort size) | -0.013 | 3.569*** |
(0.051) | (<0.001) | |
mean unemployment rate subsequent 4 years | 0.022* | 0.897 |
(0.027) | (0.184) | |
Num.Obs. | 600 | 600 |
R2 | 0.016 | 0.102 |
R2 Adj. | 0.013 | 0.099 |
p < 0.1, * p < 0.05, ** p < 0.01, *** p < 0.001 |