February 2010 Current Events: Business News
Here are the key events in business and science news for the month of February 2010.
- Toyota Admits Prius Model Also Has Brake Problems (Feb. 3): Toyota announces that its hybrid model, the Prius, has flaws in its braking system. Toyota has recalled nine million vehicles for the same type of issue—brakes temporarily failing at low speeds and gas pedals that stick, due to faulty floormats, making it difficult for the driver to brake the car correctly.
- Jobless Rate Drops to 9.7%; 20,000 Jobs Lost in January (Feb. 5): The unemployment rate drops to 9.7% in January 2010, down from 10% in December, reports the Labor Department. An additional 20,000 jobs were lost. Both numbers show that the economy is beginning to improve, as they demonstrate a decline in joblessness in the United States following the recession.