NYC Taxi and Limo commission voted yesterday to set a minimum wage rate for drivers who work for ride-share companies.
Living wage for the drivers
Half of NY Uber drivers have children and nearly 1/5th of them are on food stamps. It’s been reported Uber drivers and other gig economy workers are earning only half of what they did compared to 5 years ago due to growing competition as well.
The new rule brings up the minimum wage to $17.22 (Uber drivers currently make $11.90/hr on average, which is below NY minimum wage) and is expected increase yearly income of drivers by $9,600.
Via for the win
The commission says their new pay formula will put the burden on rideshare companies and disruption to passengers will be minimal. Rideshare companies reacted differently – Uber and Lyft said the rates could go up while Via, which already pays drivers more than minimum wage, welcomed the new rule.