The state Department of Labor and Industrial Relations said Thursday it was awarded $1.5 million by the U.S. Department of Labor to expand registered apprenticeship programs by partnering with high-growth businesses and industries to train and produce skilled workers. DLIR will initiate outreach and recruitment events to attract people into existing and new apprenticeship programs for both traditional and nontraditional apprenticeship programs.
The industries of focus include health care, culinary, construction and hospitality.
“Expanding apprenticeship programs is a win-win because they allow student workers to earn a living wage while achieving continued growth in their occupation,” DLIR Director Linda Chu Takayama said. “Apprenticeships are also a cost-effective way for employers to train their employees while fostering worker productivity, loyalty and reliability.”
30-year mortgage rate eases to 3.47%
WASHINGTON >> Long-term U.S. mortgage rates declined this week, moving closer to historically low levels.
Mortgage giant Freddie Mac said Thursday the average for a 30-year fixed-rate mortgage eased to 3.47 percent from 3.52 percent last week. The benchmark rate is down from 3.76 percent a year ago and close to its all-time low of 3.31 percent in November 2012.
The 15-year fixed-rate mortgage, popular with homeowners who are refinancing, ticked down to 2.78 percent from 2.79 percent.
The low rates have continued to lure buyers into the market. Data issued Thursday by the National Association of Realtors showed that more people signed contracts to buy homes in September, an increase that likely points to rising sales in the closing months of the year.
Bank of Hawaii has named the following new senior vice presidents:
>> Jon F. Bargfrede is senior vice president and consumer lending manager-West Pacific. His has 25 years of financial industry experience, including as president and chief executive officer of Bank of Saipan for 13 years.
>> Andrew Downes is senior vice president and personal banking manager for its Personal Banking Division. He was previously a senior vice president and operations market manager for Bank of America. Downes also was a Navy veteran, serving as an aide to the deputy commander and chief of staff in the U.S. Pacific Fleet at Pearl Harbor.
>> Nichole Shimamoto is senior vice president and deputy chief compliance officer. She has been senior vice president and director of compliance for Central Pacific Bank; vice president, associate general counsel and BSA/compliance officer for Finance Factors; and BSA/AML operations analyst at American Savings Bank.
