It Sucks to be Uber, Too.

The New Work City Taxi and Limousine Commission (TLC) just imposed a minimum hourly wage on Uber and Lyft:

The city's Taxi and Limousine Commission (TLC) said on Tuesday that it passed rules that will require "high volume" drivers of for-hire vehicles to receive a wage per trip that corresponds to $27.86 per hour, or $17.22 after expenses. The rules will go into effect in mid-January.

"New York City is the first city globally to recognize that the tens of thousands of men and women who are responsible for providing increasingly popular rides that begin with the touch of a screen deserve to make a livable wage and protection against companies from unilaterally reducing it," TLC chair Meera Joshi said in a statement.

According to the commission, the rules will result in the equivalent of a $10,000 annual raise for 96% of New York City's Uber, Lyft, Juno, and Via drivers. A report commissioned by the TLC found that median earnings for high-volume drivers of for-hire vehicles decreased by over 10% between 2016 and 2017.

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The New York City Council in August voted in favor of establishing a minimum wage for ride-hailing drivers and preventing ride-hailing services from hiring new drivers for a year. The decision came after a report from transportation analyst Bruce Schaller that said ride-hailing services increased traffic congestion.

In July, the New York Unemployment Insurance Appeal Board issued a ruling that requires Uber to provide unemployment benefits for its drivers.

Increasingly, people are coming to realize that Uber, Lyft, and the rest of the, "Gig Economy," are little more than con men who are personally profiting from negative externalities, much like polluters, the banksters, and spammers.