On February 10 , UHERO issued its forecast for the first quarter of 2012.  The forecast was mixed, noting a disappointing 2011 and the lingering failure of Hawaii's construction sector to bounce back from the recession.  This is some of what the report had to say about construction: 

"In the construction sector, it is necessary to talk separately about conditions on Oahu and on the Neighbor Islands.  On Oahu, employment bottomed out in mid-2010, and there has been a net gain of about 1,500 jobs since then.  Neighbor Island construction continues to slide, with no sign of a slackening in the pace of contraction. The more forward-looking data on permits shows encouraging signs of stabilization, with statewide private permits down less than 3% in the third quarter. We will have much more to say about conditions and prospects for the industry in our forthcoming “Hawaii Construction Forecast.”

 UHERO notes weakness in the public sector, including continued delays in the rail project.