Existing data on youth employment and career guidance programs were analyzed to identify factors that are most important in producing individuals who can find and keep a job. The data were obtained longitudinally from 419 youth employment training program participants and from 356 non-participants over approximately three years beyond the time of training program completion. Both descriptive and relational analyses were carried out. Findings showed significantly more months of employment, greater job satisfaction, and more months of education/training for the participants. These differences were sustained after controlling for the effects of age, sex, race/ethnicity, economic status, local unemployment rate, and preprogram levels of education and reading ability. The employment effects were greatest in programs that emphasized work experience or on-the-job training. Participant-control differences in months of employment were greater for minority than non-minority youth and greater for females than males. Background, previous education, and local unemployment rates were shown to have a greater effect on economic outcomes than the effect provided by program participation. It was concluded that investment in youth employment training programs can be expected to have a direct payoff in reducing youth unemployment. (Thirty tables and 19 figures are included. The followup questionnaire is appended.) (Author/YLB)