The overall goal of educating students is to have informed citizens. Learning about algorithms and data structures in school isn't about gaining employability in the IT industry. You don't study physical education in high school to become a professional athlete or visual arts to become a singer/songwriter. As with other STEM classes and English/language, the aim is to provide students with a solid foundation for the years to come.
With that being said, it's important to note that schools should be teaching problem solving, not teaching how to code. The real skills in the domain come from solving problems using a scientific approach. The code is just the implementation, and often the easy part. Teaching a bunch of syntax just to move an object around on the screen is pretty pointless.
An understanding of how to write software will teach skills around how to approach complex problems (decomposition, logical thinking, planning, separation of responsibilities, etc), how to troubleshoot systems (not just IT systems but other workflows), how to identify opportunities for optimisation and automation, and so on.
For many Australian schools, touch typing and MS-Office skills is the full extent of an IT education.