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.
'Slow progress' being made in terms of medical cannabis sector
One company, with a licence, has planning permission for a facility in the south
DHSC flags "unsustainable" deficit and growing waiting lists in Manx Care assessment
The department says Manx Care’s £15.6 million shortfall highlights weaknesses in financial governance
Chamber of Commerce brands minimum wage decision 'devastating'
Body warns the shift will mean businesses will have to face 'really harsh choices'
Clocks go back tonight
One extra hour in bed
Dry cleaning business to close after 22 years
Last day will be 31 December 2025