Sydney, Aug 6, 2007 (ABN Newswire) - Australian shares slumped this morning after more signs of weakness in credit markets sent U.S. shares tumbling on Friday. Macquarie Bank led the retreat south, with the big miners not far behind

At Midday the ASX200 index has dived 102 points to 5,919 and on the futures market the SPI 200's dropped 84.

In economic news, a new survey has revealed the labour market remains very tight. The national SEEK employment index rose by 0.3 per cent in July?making it 9.7 per cent higher than 12 months ago.

The index measures the ratio of new online job advertisements to job applications

The full report is available at the following video and audio links.

Video Link

http://abnnewswire.net/lnk/926635QR


Audio Link

http://acnnewswire.net/lnk/I6UN9S2E

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