The construction jobs bust is baked in
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On Monday, the ABS released dwelling approvals data for the December, which revealed a modest rebound in trend terms driven by units & apartments:

It’s once again time to examine how Australia’s dwelling supply is tracking against population growth.
The below charts track the following, which are based on the latest available quarterly data:
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About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
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