See Schumpeter: The great mismatch | The Economist
Despite youth unemployment of 75 million globally,more than a third of employers have trouble filling jobs. Educators aren't paying enough attention to employers' requirements. A major problem is that vocational education is neglected in favour of universities.
Vocational programmes are emphasised in some countries. Korea has a network of vocational schools,catering to such trades as machine operators and plumbers. Ireland used to have successful "Tech schools" for trades,whose mission may have been lost in Institutes of Technology.
Technical schools are building exact replicas of workplaces for training,for example a gas plant without the gas in Australia. Sweden's technical schools replicated construction sites for decades.
Information on the job placement record of past graduates should concentrate the minds of educators. In the US, Columbia's Labour Observatory provides such details on every educational institution. Irish universities are supposed to start providing similar information on their graduates.
FAS probably contributed to the mismatch of training to jobs in Ireland. It was still promoting construction jobs training when the Celtic Tiger building boom was bust.