Personal Finances Improve Last Year

March 29, 2004 (PLANSPONSOR.com) - Two-thirds of job seekers say their personal finances have either remained steady or improved over last year.

The increase in personal finances comes from a variety of different sources. Nearly 60% of the 326 people polled say they received a raise during their last evaluation and 63% are expecting an added boost from their income tax returns, according to the survey conducted by TrueCareers.

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However, the raises were not all they were cracked up to be for some – 26% say their raise was less than expected. For those who did not receive a raise, 35% point to the economy as the primary reason, while another 23% cite their company’s poor performance.

Overall though, the results show marked improvement from last year. A similar poll conducted last year showed 74% of the respondents reported no improvement.

“As the economy rebounds, employees are beginning to see improvements in their own personal finances,” said TrueCareers President Cecelia Dwyer. “Last year, nearly three-quarters of employees said they saw no improvement in their personal finances, half didn’t receive a raise, and one quarter had stopped contributing to their 401(k) accounts. The current survey results indicate we are back on course.”

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