As the Economy Grows, More License & Permit Surety Bonds Needed

Nonfarm employment rose by 312,000 in December 2018 with job gains occurring in health care, food services, construction, manufacturing, and retail, according to the U.S. Bureau of Labor Statistics.  With more people employed, it means more people need licenses and permits to do their jobs. And when more people need licenses and permits to do their jobs, they need license and permit surety bonds  to be able to receive those licenses and legally operate.

The unemployment rate stands at 3.9% after December, .2% lower than December 2017. It did rise .2% from November 2018, but total nonfarm employment still increased by 312,000 during that period.

One of the industries growing the most is health care, with 50,000 new employees in December, where some new employees may need home health care bonds  to perform their duties in the home, for example. Heavy and civil engineers experienced gains in the construction industry while retail saw a large increase in automobile dealers.  Professional and business services also saw a large increase in employment, with 43,000 more employed over the course of the month. Manufacturing added 32,000 jobs as well.

So where can all the newly employed purchase surety bonds for their required licenses and permits?

Colonial Surety Company  offers the direct and digital way to instantly obtain license & permit bonds  as well as other surety bonds.  We are the insurance company — which means no agent, no broker, and no middleman. We make it easy to instantly obtain your bond. The steps are easy — get a quote online, fill out your information, satisfy underwriting requirements, and enter your payment method. Print your bond from your office. It’s that simple!

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Alistair Lee

Commercial Surety Analyst

Amanda King

Commercial Surety Bond Administrator

Maria Bayer

Commercial Surety Representative
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