Hi Yoda,
It sounds like your son is a pretty typical 19 year old!!
I have 3 sons and boy, they are not easy to live with. Throw in some MI and you have a boatload of worry. I agree with the others -- you should focus now on getting some support for both of you. If you are in the U,S (and it sounds that way) he should be on social security or medicaid. Either one would pay for his meds. Also, the school district should refer you to the county mental health association or appropriate agency for help with job placement once he is finished with school.
It just doesn't sound so much that he needs tough love yet but maybe you need some help. It's so hard on the mom when our children look grown up but don't act it. I know, I am there with you.
I would also keep up with him on the applications if that is what you and he have agreed on. Maybe once a week you two should have an official sit down to discuss job hunting progress?
Best of luck. Keep posting.