Youth Employment Act

Youth Employment Act - Directs the Secretary of Labor to establish a program to (1) provide financial assistance, through the Youth Job Guarantee Office created under this Act, to States, local governments, private organizations, and prime sponsor planning councils established under the Comprehensive Employment and Training Act of 1973 for training and employment programs for eligible youths in jobs on public service and private employment projects, and (2) provide special assistance to those eligible youths who apply for such aid.

Makes eligible for programs and assistance under this Act those individuals age 16 to 24, inclusive, who are able and willing to work but who are not employed and who are unable to obtain employment through other means.

Establishes in the Department of Labor a National Youth Full Employment Board to assist the Secretary in carrying out the provisions of this Act.

Directs the Secretary to carry out his functions under this Act so as to (1) within one year after the enactment of this Act, reduce the number of unemployed youths in each political subdivision of every State to not more than ten percent of the total labor force in such subdivision; (2) within two years, reduce the number of unemployed youths in each subdivision to not more than three percent of the total labor force; and (3) within three years, reduce the number of unemployed youths to effectively zero.

Establishes a Youth Job Guarantee Office within the Department of Labor, with regional offices to be located in each State.

Directs the Secretary, through the Office, to do the following in carrying out the assistance programs established under this Act: (1) insure that among projects planned adequate consideration be given to such individuals and groups as face special obstacles in finding and holding useful employment; (2) enter into agreements containing specified assurances with agencies and organizations for public service and private employment projects to be administered by such agency or organization; (3) refer eligible youths who apply for assistance to private and public employment placement facilities, to employment projects established under this Act, or, under certain circumstances, to the Job Corps; and (4) declare any youth unwilling or unable to work ineligible for assistance.

Amends the Comprehensive Employment and Training Act of 1973 to require prime sponsor planning councils to select and plan projects for assistance under this Act and to monitor and evaluate such projects.