'Hundreds of thousands' of tradies needed to prop up Australia's construction sector | The Business

The construction industry has been rocked by high levels of insolvency and is expected to remain under pressure for some time.

Matt Mackey from building consultant, Arcadis, says the sector is facing a multitude of headwinds. It's been plagued with expensive material costs, higher wages and interest rates, as well as a massive skills shortage.

Pair that with an unstable economy, and low sentiment among the sector has dashed any hopes of a construction recovery in 2024.

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