The percentage of manufacturers planning to hire reached its highest level since October 2008, although employers in the manufacturing sector still plan less hiring in August than a year ago, according to the leading indicators of national employment report released by the Society for Human Resource Management.

A survey for the report found 32.6% of manufacturing employers plan to hire in August while 15.9% expect to cut staff for a net 11.0% planning to hire versus cut. The level is up from recent months, but it compares with a net 22.5% in August 2008.

In the service sector, a net hiring 16.9% of employers plan to hire versus cut in August. Although down from a net of 19.7% in August 2008, the society reported August 2009 marks the fourth month in a row the hiring rate will surpass the layoff rate.

The SHRM report is based on a survey of private-sector human resource professionals at more than 500 manufacturing and more than 500 service-sector companies.