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By the end of the year, NYC will impose pay increases for Uber and Lyft drivers

The Taxi and Limousine Commission (TLC) of New York City has decided to raise the minimum wage for Uber and Lyft drivers. Per-minute costs increase by 7.4 percent, while per-mile rates increase by 24 percent. In practise, this implies that a 30-minute journey of 7.5 miles will earn a driver at least $27.15 – an increase of more than $2.50 above current rates.

The commission also voted to raise yellow and green taxi prices by 23% (for the first time since 2012). The increased prices are set to take effect by the end of the year.

According to the TLC, the Uber and Lyft wage raises come on top of a 5.3 percent raise given to drivers earlier this year. Drivers wanted more compensation in the face of rising inflation and rising operating expenses.

Uber and Lyft drivers will see another fee increase in March. The hike will be “based on inflation comparing December 2022 to September 2022,” according to a New York Taxi Workers Alliance (NYTWA) statement. The union said that this was the first step in a campaign to guarantee that drivers get at least $25 per hour in take-home pay after expenditures. “We’re going to leverage the momentum of this driver rise, which comes against employer resistance and after a lengthy delay, to push our struggle for a job with respectable wages, job security, and retirement,” said Bhairavi Desai, executive director of NYTWA.

“Increasing taxi fares and minimum wages for high-volume drivers is the proper thing to do for our city.” “According to TLC commissioner David Do. “This is the first rise in taxi fares in 10 years, and it will assist cover higher operational costs and the cost of living for TLC-licensed drivers. We are optimistic that today’s unanimous commission decision will ensure the sustainability and readiness of our taxi and [For-Hire Vehicle] fleets to serve New Yorkers.”