The number of people out of work dropped by 144 from April to May, with the most recent figures showing 607 residents were registered as unemployed.
This drop gives an unemployment rate of 1.4%, down 0.4% on the previous month.
The International Labour Organisation’s estimate is that 1,052 people are unemployed compared with its April estimate of 1,196. This gives an unemployment rate of 2.6%.
Last April, the island’s unemployment figures rose to a 20 year high of 1,347.
The Job Centre is also reporting an increase in the number of vacancies posted across the month of May, up 277 to 1,072. At the end of the month, 728 of these jobs remained, 432 were full time position and 296 were part time.
The sectors with the high number of unemployed people are retail distribution (67) and catering and entertainment (44). However catering and entertainment was also the sector with the highest number of vacancies (177).