Public Service Employment Act

Public Service Employment Act - Declares that one of the purposes of the Comprehensive Employment and Training Act of 1973 is to provide employment opportunities to assure that no area in the United States has an unemployment rate in excess of seven percent.

Defines "area of severe unemployment".

Establishes in the Treasury the Public Service Employment Fund. Sets forth the amounts in such fund during each fiscal year and authorizes appropriations to carry out the purposes of this Act.

Provides that eligible applicants shall be entitled to allotments from the fund in accordance with the excess number of unemployed persons residing in areas of severe unemployment.

Makes technical and conforming amendments to specified Federal Acts.