First, I would like to ask, could this be a reflection of a failing educational system? My second question is that if you happen to be the employer here, which will you consider more, school or skills?
I have to judge it from the progress of a country. If a country is already considered advanced, perhaps the character of their education system is different from a country that lacks human resources.
For me, school and skills are both important and they are inseparable units. School is where we learn to gain skills according to the discipline of our choice.