Today's postindustrial or information age requires a different mix and a more advanced level of basic employability skills than those needed in the industrial age. As a result, the workplace is now demanding a higher entrance level of employability skills than the schools have previously been asked to provide. In addition, information technology is increasingly developed in the workplace. Employers have responded by complaining about the schools, helping the schools, and starting in-house programs to provide basic employability skills and further training. A literature review revealed that little is known about private sector training, particularly about employer-provided training and most specifically about informal, on-the-job training. Estimates of employers' annual expenditures on training are of questionable accuracy. Private sector training may be of sufficient policy importance to warrant a systematic data collection effort. The findings of the literature review also confirm that women and minority groups are much less likely to receive employer-provided training than are white males. Suggested policy changes may improve access to private sector training. Finally, the review suggests that the popular idea that firms underinvest in human capital may not be accurate. It suggests that more research is needed, but to the extent that underinvestment in private sector training does exist, options are possible for increasing the extent of such training. (70 references) (KC)