The Monster Worldwide Inc. (NYSE: MWW) employment index fell four points in March to a reading of 118 from its February reading of 122. The index is down 49 points from its year-ago reading in March 2008.

"The decline in U.S. online recruitment activity during March was a sober follow-up to February's seasonal rise, as uncertainty in the future economic situation continued to keep employers on the sidelines of the hiring field," said Jesse Harriott, senior VP and chief knowledge officer at Monster. "While online hiring activity has clearly declined on an annual basis, some areas have been less affected than others, including healthcare and public administration."

Monster's index is based on a review of online job ads taken from a selection of corporate career Web sites and job boards, including Monster.