Business

Survey: Firms Optimistic on Hiring, Wages in 1Q

Published

11 years ago

January 26, 2015

In this Oct. 21, 2014 file photo, a shopper walks across a floor displaying fashion brands and restaurants' names at a shopping mall in Beijing, China. This holiday season, some companies are hoping to make it as simple to shop on the other side of the world as it is to buy from a store down the block. (AP Photo/Andy Wong, File)

(AP Photo/Andy Wong, File)

WASHINGTON (AP) — Rising sales helped boost hiring at U.S. businesses in the last three months of 2014, and companies are optimistic that continued improvement in business conditions will bring increased employment and wages in the current quarter, a new survey shows.

And many businesses expect the steep drop in oil prices in recent months to have a positive impact on them this year, according to the survey released Monday by the National Association for Business Economics.

Fifty-four percent of the 93 respondents to the quarterly survey said sales at their companies increased in the October-December period. That was up from 49 percent in the third quarter. As sales picked up, so did hiring. Thirty-four percent of companies responding said they hired more workers during the fourth quarter, about the same as in the second and third quarters.

Businesses said the outlook for the January-March period is strong. Fifty-one percent of respondents said they expect wages and salaries to increase at their companies — up sharply from 34 percent in the fourth-quarter survey. Thirty-six percent said they expect their companies to hire more workers, up from 31 percent previously.

Finance, insurance and real estate companies were most likely to say they expect employment increases, at 52 percent; transportation, utilities and communications firms were the least likely, at 15 percent. Only 7 percent of respondents expect employment declines at their companies in the first quarter.

“Business conditions continued to improve in the fourth quarter of 2014,” NABE President John Silvia, the chief economist for Wells Fargo Securities, said in a statement. “There are strong expectations for the first quarter, especially for jobs and wages. … Moreover, price and cost pressures appear to be subdued.”

There was a sharp decline in the number of companies reporting they raised prices in the October-December period, to 16 percent from 25 percent in both the second and third quarters. Higher prices were reported most frequently by respondents from the transportation, utilities and communications sector, at 25 percent. Nearly two-thirds of respondents — 65 percent — expect no change in the prices their companies will charge in the first quarter, close to 66 percent in the fourth-quarter survey.

The drop in oil prices was the financial shocker of 2014. In the first half of the year, the oil market looked just as it had the year before — and the two years before that. Crude oil was more than $100 a barrel and drivers in the U.S. were paying around $3.50 a gallon for gasoline. Now oil is around $45 a barrel and the average gas price is $2.07 a gallon.

Fifty-seven percent of respondents in the NABE survey indicated that tumbling oil prices would be positive to some extent for their businesses this year, while only 18 percent said they could have a negative impact. The decline is expected to benefit the manufacturing sector to a larger extent than others.

The survey, in this case conducted between Dec. 15 and Jan. 8, is intended to gauge business conditions at NABE members’ companies or industries. Forty-three percent of the respondents were from companies with more than 1,000 employees.
Copyright 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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Financial Wellness and Mental Health: Managing Money Stress in College 

While everyone’s financial situation is unique, several common sources of stress have the potential to strain your financial health. These include financial and economic uncertainty, existing debts, unexpected expenses, and mental or physical health changes. Financial stress may differ from situation to situation, but understanding the factors contributing to yours may help you begin to craft a plan for your unique circumstances.

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3 weeks ago

March 17, 2026

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As a college student, managing financial responsibilities can be stressful.

If you’ve found yourself staying up late thinking about your finances or just feeling anxious overall about your financial future, you’re not alone. In one survey, 78% of college students who reported financial stress had negative impacts on their mental health, and 59% considered dropping out. While finances can impact overall stress, taking steps to manage your finances can support your mental, emotional and physical well-being.

When it comes to money, the sources of stress may look different for each student, but identifying the underlying causes and setting goals accordingly may help you feel more confident about your financial future.

Consider these strategies to help improve your financial wellness and reduce stress.

Understand what causes financial stress

2. Determine your financial priorities

Start by reflecting on your financial priorities. For students this often includes paying for school or paying off student loans, studying abroad, saving for spring break, building an emergency fund, paying down credit card debt or buying a car. Name the milestones that are most important to you, and plan accordingly.

3. Create a plan and stick to it

While setting actionable goals starts you on the journey to better financial health, it’s essential to craft a plan to follow through. Identifying and committing to a savings plan may give you a greater sense of control over your finances, which may help reduce your stress. Creating and sticking to a budget allows you to better track where your money is going so you may spend less and save more.

4. Pay down debt

Many students have some form of debt and want to make progress toward reducing their debt obligations. One option is the debt avalanche method, which focuses on paying off your debt with the highest interest rate first, then moving on to the debt with the next-highest interest rate. Another is the debt snowball method, which builds momentum by paying off your smallest debt balance, and then working your way up to the largest amounts.

5. Build your financial resilience

Some financial stress may be inevitable, but building financial resilience may allow you to overcome obstacles more easily. The more you learn about managing your money, for instance, the more prepared you’ll feel if the unexpected happens. Growing your emergency savings also may increase resilience since you’ll be more financially prepared to cover unexpected expenses or pay your living expenses.

6. Seek help and support

Many colleges have resources to help students experiencing financial stress, like financial literacy courses or funds that provide some assistance for students in need. Talk to your admissions counselor or advisor about your concerns, and they can direct you to sources of support. Your school’s counseling center can also be a great resource for mental health assistance if you’re struggling with financial stress.

The bottom line

Financial stress can affect college students’ health and wellbeing, but it doesn’t have to derail your dreams. Setting smart financial goals and developing simple plans to achieve them may help ease your stress. Revisit and adjust your plan as needed to ensure it continues to work for you, and seek additional support on campus as needed to help keep you on track.

 JPMorgan Chase Bank, N.A. Member FDIC