UberDATA: New Data Quantifies Uber’s Impact on Chicago Drivers and the Local Economy
Here in Chicago, we are proud of the option we afford riders, the economic opportunity that gives drivers, and the impact that activity has on the city. You know that we love data, so we have done some new analysis to quantify that very impact.
What we have learned is that Uber’s operations in Chicago are generating significant economic activity while also giving drivers economic opportunity above the median hourly wage.
BY THE NUMBERS
$46,380,000: The total gross impact of Uber’s operations on Chicago’s economy in 2013. And there’s more: year over year, Uber Chicago’s revenue for January and February 2014 has more than tripled since 2013. Given that gross economic impact will scale roughly proportionately to Uber’s revenue growth, we expect the impact in 2014 will be substantially larger.
25,000: The additional, incremental to the transportation market, rides created by Uber’s convenient and efficient technology in Chicago in 2013.
1,049: The equivalent of gross new jobs with which Uber is associated in Chicago for 2013.
59%: The percentage of uberX partners in Chicago who earn more than the median income in their neighborhood.
>$16: The median earnings per hour for a driver using the uberX platform in Chicago, which is almost twice the local minimum wage.
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We have developed a new pilot program – Xchange Leasing – which is a leasing option administered by an Uber subsidiary and designed to fit with the flexibility that drivers value most. The Xchange lease is one of a kind, and offers value that traditional auto leases do not provide. Unlike most multi-year leases that have high fees for early termination, drivers who participate in Xchange for at least 30 days will be able to return the car with only two weeks notice, and limited additional costs. The program allows for unlimited mileage and the option to lease a used car, with routine maintenance also included.
A new report conducted in partnership with Mothers Against Drunk Driving (MADD) reveals that when empowered with more transportation options like Uber, people are making better choices that save lives.
New technologies are creating opportunities no one could have imagined. To understand Uber’s place in that trend, we commissioned a survey of our driver-partners and put together a comprehensive analysis.