This report investigates the Longitudinal Surveys of Australian Youth (LSAY) for its coverage of wellbeing questions. It is an area of considerable interest to policy-makers, and having a valid set of wellbeing questions in LSAY will enhance the capacity to investigate the links between wellbeing and other domains of interest for young people. The analysis finds three robust factors, which can be termed social wellbeing, material wellbeing and career. The three factors do not cover all the dimensions of wellbeing discussed in the literature, particularly the psychological aspects. Suggestions are made for enhancing the current list of wellbeing questions in LSAY.