This report is based on data from the 1979 and 1980 waves of the National Longitudinal Survey of Youth Labor Market Experience (NLS). These data were collected for a nationally representative sample of 12,686 youth in 1979 and 12,141 in 1980. Chapter One uses the longitudinal capability of the NLS to examine those youth who were unemployed at the 1979 interview to determine who among them became employed within various time intervals. Chapter Two investigates the relative positions of black and white young men in 1971 and 1979 who were out-of-school, 18-21 years old, and who are not in the military. Chapter Three deals with changing patterns in black/white wage and reservation wage differentials. Three schooling decisions are studied in Chapter Four: the decision to drop out of school without finishing the 12th grade, the decision to return to school after having dropped out, and the decision to go directly on to college after completing 12th grade. Chapter Five is a study of the effects of high school curriculum on the labor market experience of young men and women who do not go on to college. The final chapter treats delinquent behavior by youth. An executive summary is included. (BW)