The number of people out of work has fallen to the lowest level since 2004.

Latest labour market figures show unemployment fell to 507 last month, down 67 from February and 287 lower than March last year.

The last time the figure was lower than that was in December 2004.

It equates to an unemployment rate of just 1.2 per cent.

However, the latest report also includes an International LabourOrganisation estimate of unemployment which is much higher at 952. This includes those who are not registered for Job Seekers’ Allowance but are still looking for work.

During March, 932 job vacancies were notified to the Job Centre. At the end of the month, 580 remained. Some 65 per cent (379) were full time positions and 35 per cent (201) were part time.

Of the 507 unemployed, 341 were men and 166 were women.

Sectors with the highest levels of unemployment are construction, retail distribution and catering and entertainment while those with the highest numbers of vacancies include e-gaming and medical and health services.