In working condition we like to use the term real wage to better
reflect actual earning of individual against inflation and other
higher cost of living. If you said inflation is 5% and wages
increase by 5%, it is consider as no increment,
And if wages increase by 3%only, it is consider a lost, because
you lack behind inflation and Consumer index price %, every month,
consider it constant, you are consider 2% short of coping with the
society.
Let us put it now into TD fares and income, Taxis companies, as
I said long ago, uses new cabs to increase fares, new gadgets,
better seats, and more importantly new engine, and as Taxis keep
changing, rental will keep raising.
So they up the fare abit, prolong the peak hours just to lure
you out to slog for them further, but your income may not be able
to sustain the inflation, even if you make more than last time, it
is actually you are working longer hours,
In terms of taxi driver earning, we are still lacking far behind
the current inflation of 5.0 to 5.5%, and even if you earn 3000 and
now add another 5% = 3150, you are still breathing just above the
water, unless you get 10%, then you can proudly said, I can
overcome the inflation. Bearing in mind rental and fuel prices are
progressively increasing, but fares and surcharges changes once a
while in a long time.