As the second report on a cohort of 5,083 women between 32 and 46 years of age who were first interviewed in mid-1967, contacted by mail in 1969, and reinterviewed for the first time in 1969, three topics are considered in this longitudinal study: (1) changes in labor force participation, (2) interfirm mobility, and (3) changes in job satisfaction and in rate of pay. Emphasized are possible implications for public policy and for the way in which the labor market behavior of adult women is viewed. The labor force participation rate of white women in the group increased from 47.4 to 51.0 percent, while the rate for black women remained steady at 67.4 percent. There was a decrease of 11 percentage points in labor force participation by white women with no children under the age of six in 1967 but with at least one child under six in 1969, which shows the deterrent effect of young children on mothers' labor force participation. A favorable demand for well-trained women is reflected in positive relationships between the labor force participation rate, rate of pay, and educational attainment. Health, marital status, and job satisfaction are other variables considered. Factors associated with the job changes of about 20 percent of the white women and 25 percent of the black women from 1967 to 1969 are discussed. Various tables present the data, and a wide range of resource materials is appended. (Volume I is available as ED 043 755). (AG)