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Values of taxi medallions, transferable permits or licenses authorizing the holder to pick up passengers for hire, have declined in value significantly. In 2018, this led to failures by credit unions that lent money secured by taxi medallions [25] and suicides by taxi drivers. [26] [27]
The taxicabs of the United States make up a mature system; most U.S. cities have a licensing scheme which restricts the number of taxicabs allowed. As of 2012 the total number of taxi cab drivers in the United States is 233,900; the average annual salary of a taxi cab driver is $22,820 and the expected percent job increase over the next 10 years is 16%.
Yellow cabs in New York City A luminous taxi top sign. A taxi, also known as a taxicab or simply a cab, is a type of vehicle for hire with a driver, used by a single passenger or small group of passengers, often for a non-shared ride. A taxicab conveys passengers between locations of their choice.
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