Image default
Auto Business Economy Money and Personal Finance Travel Trending

NYC Sets $17 An Hour Minimum Wage For Uber And Lyft Drivers

#bb4ee86f_da74_432d_91ef_3eac7ebe73fe

Summary:

New York City set a minimum wage for drivers of ride-hailing services like Uber and Lyft. The city’€™s Taxi and Limousine Commission established a per-minute and per-mile formula that they say will result in drivers earning $17.22 an hour, which will raise annual earnings by $10,000. According to Uber, the rules ‘€œwill lead to higher than necessary costs for riders”. But the commission believes New Yorkers will be willing to pay more so that drivers can ‘€œprovide for themselves and their families’€.

Questions:

  • Should all cities implement minimum wages for Uber and Lyft drivers?
  • Will New Yorkers balk at the increased ride costs resulting from the new rules?

Article:

New York City has become the first in the U.S. to set a minimum wage for app-based car services. The city’s Taxi and Limousine Commission voted Tuesday to establish a per-minute and per-mile payment formula for Uber, Lyft, Via, Juno and Gett that is supposed to result in drivers earning $17.22 an hour. Regulators say it will raise drivers’ annual earnings by $10,000 a year.

“New York City is once again passing benchmark regulations to protect workers in an unruly gigantic economy,” said the New York Taxi Workers Alliance.

At the end of this year, the city’s minimum wage is set to increase to $15 an hour. The equivalent wage for drivers who are regarded as independent contractors and who have to cover their own costs is $17.22.

Read More: https://www.cbsnews.com/news/nyc-sets-17-an-hour-minimum-wage-for-uber-and-lyft-ride-hail-drivers/

Related posts