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.
Young people's bereavement drop in service coming to an end
Final session to take place this month
Pub's inclusive toilet signs vandalised
"Bigotry isn't cool", says The Original Quids Inn
£100K cash injection for energy efficiency scheme
4,500 homes benefit from cost-saving kit
Regulator investigates potential Manx Radio licence compliance issue
CURA concerned speech content falls below 40% following launch of Manx Radio Gold
DoI has change of heart over seaweed clearance in Laxey Harbour
It follows concerns raised by boat owners