To amend the Fair Labor Standards Act of 1938 to encourage the employment of full-time students under the age of 21 and of other persons under the age of 18.

Provides, under the Fair Labor Standards Act, that not withstanding the minimum wage rate requirements of the Act, any employer may, in compliance with applicable child labor laws, employ any employee to whom such a rate would apply but for this Act, and who is sixteen or seventeen years of age or a full-time student over the age of fifteen but under the age of twenty-one, at a wage rate which is not less than 80 percent of the otherwise applicable minimum wage rate prescribed by the Act.

Provides that an employer may, under the same conditions, employ any employee to whom such rate would apply but for this Act, and who is fourteen or fifteen years of age, at a wage rate which is not less than 60 percent of the otherwise applicable minimum wage rate prescribed by the Act. (Amends 29 U.S.C. 214(b))