Hiring expectations for November dropped by wide margins in both the manufacturing and services sector from a year ago, according to the leading indicators of national employment report from the Society for Human Resource Management.

The report's survey found that 27.2% of manufacturers plan to add staff in November while 24.7% plan to cut personnel for a net increase of 2.5%. That's down from a net increase of 41.5% in November 2007.

In the service sector, employers estimated a net employment increase of 9.9% in November, down from 42.5% in November 2007.