The "Employment Services and Jobs Parity Act" aims to expand the reach of the Wagner-Peyser Act by formally including the Commonwealth of the Northern Mariana Islands and American Samoa. This amendment integrates these territories into the federal framework for employment services, aligning them with other U.S. territories like Guam and the Virgin Islands. Key provisions involve updating the Act's definitions to recognize these territories as eligible entities and extending the requirement for a State unemployment compensation law to them. Furthermore, the bill establishes a mechanism for federal funding, ensuring that both the Commonwealth of the Northern Mariana Islands and American Samoa will receive allotments for employment services equal to half of Guam's allocation, contingent on increased overall funding levels.