When comparing March 2012 to March 2011, service-sector hiring is expected to fall by a net of 10.3 points while manufacturing-sector hiring is projected to rise by a net of 4.8 points, according to a new report from the Society for Human Resource Management that surveyed 500 service-sector companies and 500 manufacturing companies.

The survey also shows that a net of 24.7 percent of respondents anticipate hiring in March as opposed to a net of 35 percent that did so one year ago, marking a 10.3-point drop. In March, 31.6 percent of service-sector respondents plan to hire than lay off at 6.9 percent.

A net of 50.5 percent of manufacturing-sector respondents plan to hire in March 2012 for a slight uptick from the 45.7 percent that added workers in 2011. This also represents the highest net hiring level since July 2006 at 52.7 percent. Based on the manufacturing-sector hiring index, 55.6 percent of respondents expect to add workers than cut jobs at 5.1 percent.

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