Job Opportunities to Benefit Society (JOBS) Act of 1992

Job Opportunities to Benefit Society (JOBS) Act of 1992 - Title I: Programs for the Unemployed - Directs the Secretary of Labor (the Secretary) to establish in the Department of Labor a program of grants to States to create employment programs for certain unemployed individuals in States where the unemployment rate is five percent or more.

Requires State Governors, in order to receive fund allotments, to submit annual State plans detailing programs and activities to be assisted and indicating compliance with specified program requirements. Requires a State program to limit such employment to persons within the State who have been unemployed for at least six months and would otherwise qualify for unemployment compensation.

Authorizes appropriations.

Establishes in the Treasury a Jobs Opportunity to Benefit Society (JOBS) Account, consisting of donations by private individuals and/or corporations to help fund such grants.

Allows a State, upon the Secretary's approval of its plan, to receive annual grants based on the number of individuals it expects to employ under the program. Provides that the Secretary will determine the amount of such grants.

Terminates the authorization for this Act 36 months from its enactment date.

Title II: Deficit Reduction - Requires any grant funds not expended by the Secretary at the end of each fiscal year to be converted to the Treasury for deficit reduction.