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.
Festival of Motoring 'dream rides' take place today
Cars will be on Douglas Promenade between 12pm and 3pm
Drop-in session offers support for households ahead of rising winter costs
Support service says finances will be stretched for some over the coming months
Number of bus services 'at risk' today
No reason given by Bus Vannin
Check in advance which polling stations are accessible
Voters can now use any in their constituency
