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The gig is up: Uber drivers and other gig economy workers are earning half what they did five years ago

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jeremyalastor
61
 Posted 3 years, 10 months ago

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    momof4
    8199 Rider Driver
     3 years ago

    Too many drivers out there between Uber/Lyft. They need to do what New York did and put freeze on hiring or do better background check not a 3rd party.  A real background check fbi/fingerprint that would weed out the criminals, DUI's, etc... The lawsuits would stop, bad press would stop. It would get rid of all those drivers with criminal past plus it would prevent new criminals from being hired. Get rid of the criminals the remaining drivers would get more rides.  At any given time in my area when I open rider app there are 8 cars shown in a 2 mile radius ( that shows the area is saturated with drivers). When I started 15 months ago I was getting rides one after another on weekends. Weeknights were slower but not like they are now. On Holidays are usually busy I've waited 45 min or longer for a ride request. Weeknights now are same way. A handful of drivers quit today but there are 50 drivers or more signing up to drive tomorrow. 

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      Bigfrank
      447 Rider Driver Driver
       3 years ago

      As the minimum wage will rise to $15 per hour in NY they had no choice but to cap TLC plates and 7 suicides unfortunately did help. Additionally the communists like UBER will be forced to pay drivers if their earning falls below $17,22 per hour after they rape us with their commissions.They will be surcharges added to fares to cover pension plan and medicial insurance..  God bless the Drivers union who stood under one voice to combat these ride sharing bastards. . 

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    Wes
    1602 Rider Driver
     3 years ago

    As long as there are indivivduals willing to drive at the presiding rate, there will continue to be an oversaturation of drivers who are working for compensation levels that continue to decline, and Uber/Lyft will continue to increase their percentage of the collected fare.

    And as we view the history of other business models that pay minimum wage for a job that is physcially demanding, and recognize that while staff turnover is always high, they are able to continue to operate becuase there are always people willing to apply and give it a try.

    At one point in my three years of occasional driving for Uber/Lyft I thought perhaps we would eventually weed out the drivers and things would improve.  Wow was I wrong!  Today in my market area there are more drivers than ever - I'd say 4-5X the number of drivers present a year ago, and while demand has also increased, it certainly hasn't increased to match the level of available cars. 

    The good news is that the saturation wil…

    Read more...

    As long as there are indivivduals willing to drive at the presiding rate, there will continue to be an oversaturation of drivers who are working for compensation levels that continue to decline, and Uber/Lyft will continue to increase their percentage of the collected fare.

    And as we view the history of other business models that pay minimum wage for a job that is physcially demanding, and recognize that while staff turnover is always high, they are able to continue to operate becuase there are always people willing to apply and give it a try.

    At one point in my three years of occasional driving for Uber/Lyft I thought perhaps we would eventually weed out the drivers and things would improve.  Wow was I wrong!  Today in my market area there are more drivers than ever - I'd say 4-5X the number of drivers present a year ago, and while demand has also increased, it certainly hasn't increased to match the level of available cars. 

    The good news is that the saturation will ebb and flow.  Give it a few months and your personal market willl  likely improve and there will be others complaining about suration in their market.  I've witnessed this cycle since the begining and it demonstrates the reality that most drivers last six months or less.

    Will we ever run out of applicants?  Probably not, but eventually the overall opinion of "driving for Uber" will decline if the current rates and mode of operation continues adn then, and only then, Uberl/Lyft might actually look toward making it a decent gig once again (like it was in the beginning).

    Read less...

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    justincases
    20
     3 years ago

    The real question here is how do you get into the leasing gig economy?!

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    johnblotter
    97 Rider Driver
     3 years ago

    Not surprising, any driver can tell you this is true.

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    DFosterG11
    187
     3 years ago

    Well, we sort of knew that as the market gets saturated, people's compensation would go down.

    Many economists predicted this. Think about it: Anyone can do it.  Everyone is a potential service provider.  The gig economy provides infinite supply to the market.

    With infinite supply of workers, the earnings will natrally come down.  (The demand may rise due to convenience of mobile apps; however, it's the falling price that seems to be driving the demand.)

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    EminAliev
     3 years ago

    it is obvious. I was leasing  Van in Chicago are and was doing Lyft, Uber, some Easymove Package Delivery, and earning was pretty good.
    Now i am moving to NY  city lets see what will happen

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    nmp
     3 years ago

    We released a unique affiliate program, called NMP, exclusively for rideshare drivers that can bring back the higher earnings that everyone was excited for when they started driving.  And, we pay attention to oversaturation in each market.  It requires almost zero extra effort and doesn't cost a penny to get started.  We're worth checking out to see if we can boost your earnings.  Many drivers in Houston, recently released nationally.  https://nmp.neumate.com