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.
No families consulted before police released footage of fatal racing crashes
Concerns raised about the incidents included in road safety campaign
TT generates its own success, says Visit Isle of Man
Attention now turns to later in the year
Island businesses invited to take part in survey
It's done twice a year for economic monitoring
Underage drinking a key issue observed by Streetwise team at TT 2025
The annual scheme hopes to help keep young people safe during the festival