00:00It's Benzinga, bringing Wall Street to Main Street.
00:02More than 50,000 California Uber and Lyft drivers have signed cards to join the newly formed California Gig Workers
00:08Union
00:08as rising operating costs cut into earnings, according to the Wall Street Journal.
00:12Drivers face higher expenses for gasoline, insurance, and vehicle maintenance,
00:16while time spent waiting for rides remains unpaid.
00:19Nationwide, average gross pay reached $24.38 per online hour in the second quarter,
00:25up 7.3% year-over-year, but down about 10% from 2021.
00:30California drivers also face growing competition from driverless taxis.
00:33The union aims to negotiate better pay and benefits while helping drivers appeal account deactivations.
00:38Massachusetts certified the nation's first rideshare drivers union in May,
00:42and Illinois has passed legislation allowing drivers to unionize.
00:46For all things money, visit Benzinga.com.
