HomeFinTechUber: Announces Seattle Price Hike To Meet Minimum Wage Law

Uber: Announces Seattle Price Hike To Meet Minimum Wage Law

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  • In September, the Seattle City Council unanimously voted to adopt new rules which force Uber and Lyft to let their drivers earn the city’s $16.69 minimum wage in 2021
  • That means the rideshare companies will have to pay their drivers at least $0.56 per minute when they’re driving, along with a per-mile rate to cover expenses
  • According to the City of Seattle, that standard will help make sure drivers make at least the city’s minimum wage
  • Uber hit by the COVID-19 pandemic and lost around 80 percent of its ride volume as people sheltered at home early in the year
  • While Lyft hasn’t announced a fare hike, the company said it might do so in the future if needed
  • Uber, Lyft and other companies have faced pressure to negotiate with unions and labor groups to help reclassify gig workers there as full employees
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