Human Resources Development Act

Human Resources Development Act - Directs the President, through the Secretary of Labor, to carry out a program of projects by means of contracts with public and private employers, including labor unions, and with institutions of higher education, each such project to either: (1) involve increased participation of employees in decision making and, through compensation or otherwise, in the gains associated with increased productivity; or (2) demonstrate specific programs or guidelines under which employment can be maintained at prescribed levels for a specific period and advances can be made in the quality of working life. Includes within such demonstration projects, grants to employers in high unemployment areas for the purpose of retaining employees who would otherwise be laid off during periods of cyclical unemployment through improving the design of workplaces or work assignments or improving job skills.

Directs the Federal Mediation and Conciliation Service and the National center for Productivity and Quality of Working Life, when requested by the Secretary, to provide technical assistance with respect to projects pursuant to contracts under this Act.

Establishes a Human Resources Advisory Council to furnish advice and assistance in the administration of such projects.

Authorizes the Secretary to guarantee, or make commitments to guarantee, loans made by certain financial or credit institutions or pension funds to independently owned and operated small businesses requiring funds in order to continue participation in a project assisted under this Act.