Unemployment fell back below the 1000 barrier last month, dropping to 970.
Last month's figure was a 13-year high, but February saw a year-on-year decrease for the first time since August 2008.
It means 2.3% of the economically active population is unemployed.
Treasury Minister Allan Bell says the figure is encouraging.
Government responds to Island's inclusion in Epstein files
Newly released documents reveal over 100 references to the Isle of Man
DHSC publishes 2026/27 Mandate to Manx Care
Minister says 'fiscal discipline underpins every commitment'
Another amber weather warning for coastal overtopping issued for Wednesday
It'll be in force between 11am-3pm
Issues with Vinted resolved, says DfE
Manx residents haven't been able to send items using the app's integrated services
Heysham sailings cancelled due to adverse weather forecast
More are also subject to possible disruption or cancellation