A US cultural, economic and social icon 24/7 service the world famous “Yellow Taxi’s” of US is facing a tough time to get back on his feet even after the pandemic. Even before the pandemic hit the world the industry was facing already facing challenges from it’s competitors like Uber and Lyft.
Earlier a Taxi driver’ used to earn around $7000 if they worked 7 days a week and now they are only able to earn $700 – $1000. Their earnings have dropped more than 80% and some of the drivers are fortunate that they are not a single income household otherwise many NY drivers are trying hid their emotions through jokes and make suicidal jokes as they say they’d have to tie a noose around their necks.
But many drivers are still debt ridden as they have paid a high price of get their license, known as a medallion in New York city. One driver, Kenny Chow paid $750,000 for his license and it was reported that in 2014 the cost of a medallion reached $1 million.
The New York mayor, Bill de Blasio has agreed to help the cabbies but it all depends upon what kind of stimulus support the city is allotted by federal government