How important is continuing education and on-the-job training to keep pace with technological progress and new knowledge?Not necessary, as existing skills are sufficient?

How important is continuing education and on-the-job training to keep pace with technological progress and new knowledge? Not necessary, as existing skills are sufficient. They are only important for young people who are entering the labor market. Are necessary to keep skills in line with technological progress and new knowledge. They are important only to the most experienced workers?