Expectations of wage increases are higher for the third quarter than the second quarter, according to a new Business Conditions Survey released by the National Association for Business Economics.

The newly released July survey of NABE members found 47% believe wages will rise over the next three months. That’s up from 44% who said the same thing in a similar survey released in April.

And when asked for the July survey whether they had raised wages and salaries in the second quarter, 47% said they did.

The July survey also asked about hiring difficulty, and slightly more than one third of panelists also reported their firms did face some difficulty over the last three months. On the other hand, 27% reported no difficulties — the remainder either did not hire or were unable to answer for their firms. Common approaches for recruiting new employees for those firms that faced hiring problems included increase salary offers or a focus on training internal candidates.

“But employment growth remains positive,” said Survey Chair Emily Kolinsky Morris, “and panelists do report some firming in capital spending, though not necessarily related to policy developments, as the vast majority of respondents continues to cite no change in hiring or investment decisions in the wake of post-election developments. Pricing power — or lack of it — and labor costs are generating some headwinds for a significant number of firms.”

Kolinski Morris is also chief economist at the Ford Motor Company.

NABE is a professional association for business economists and others who use economics in the workplace. The survey included 101 NABE members and was conducted between June 15 and June 28, 2017 and asked about labor as well as a number of other economic and business issues.