How is school, college or university preparing people for using mathematics at work?

Preparatory questions and links:

Focusing questions:
What mathematical ability is it reasonable for an employer to expect of a school-leaver?
Does a negative employment/education gap (allowing work whilst still in school) have any effect?
Should employers be training their employees in the number skills specific to their job or should colleges/universities be teaching more 'practical' mathematics?
Are degrees in mathematics useful anywhere apart from in teaching mathematics or does their usefulness come from the general approach towards problems that mathematicians take?
Will there ever be an ideal curriculum which satisfies both the school-leaver and those continuing with higher education?
How do other school subjects fit into this scenario?

(Provided by @ColinTGraham)

Useful Links:
By NRICH - mathematics for specific purposes (STEM)
By NIACE (Promoters of Adult Eduction in the UK) Money Matters To Me
By MathsCareers - Maths in a Box (resources to encourage the further study of mathematics up to age 18)

Threaded discussion from Thursday 18th November 2010 -
Threaded discussion from Monday 22nd November 2010 -

Links mentioned in the discussions, with contributor:

Resources (costing money!) mentioned in the discussions, with contributor:

Other links which may be useful