Seriously, how are Uber and Lyft drivers surviving?
$3.37 an hour—that’s the median take-home pay if you drive for a ride-hailer, according to a new study.
Less than minimum wage: A survey of 1,100 Uber and Lyft drivers in the US has found that when expenses are taken into account, 74 percent of people earn below minimum wage.
Unsustainable: Nearly half of drivers earn so little they actually qualify to report losses on their tax returns. “This business model is not currently sustainable,” Stephen Zoepf, the Stanford University researcher who led the study, told the Guardian. “The companies are losing money … and the drivers are essentially subsidizing it by working for very low wages.”