CFOs in the US are seemingly more confident now than they were in September, according to the quarterly CFO Outlook Survey conducted by Financial Executives International and Baruch College’s Zicklin School of Business. While employment and wage outlook remains positive, CFOs are fairly concerned about economic issues such as healthcare costs and government regulation, and see challenges to their businesses stemming from competition and the looming threat of a cyberattacks, the survey found.

The survey’s quarterly optimism index for the US economy jumped to 70.71, up more than five points from 65.26 in the prior quarter’s survey and a 14% increase from 62.0 a year ago. The optimism index for US CFOs’ businesses increased to 73.11 from 70.41 in September.

The survey found 80% of CFOs were not forced to reduce headcount over the past 12 months. Furthermore, 65% of respondents said wage levels they are paying are on the rise compared with CFOs polled the same time last year.

“Increasingly optimistic US CFOs appear poised to increase wage rates,” said Linda Allen, professor of economics and finance for the Zicklin School of Business at Baruch College. “US businesses are relatively flush with cash and are positioning themselves to meet global challenges (such as oil price declines, Chinas slowdown and cybersecurity threats), as well as uncertainties in the US regarding interest rate increases anticipated during 2015.”

The electronic survey included 113 corporate CFOs from the US from Jan. 20 to Feb. 15, 2015.