Taxis work in a tough industry. A typical taxi driver’s salary is only about $31,590 . There are a limited number of medallions, which are necessary to legally run a taxi company, within many cities. This leads to many economic inefficiencies. For example, people wait years in line for the chance to buy a taxi medallion.
Because the supply of medallions is limited, the cost of medallions is artificially high. A medallion can cost hundreds of thousands of dollars. In fact, two recently sold in New York City for $1 million each .
2. Being a taxi driver is bad for physical and emotional health.
I briefly mentioned in this article that the long, sedentary hours that taxi drivers face is bad for their health. A recent article in Scientific American reported that sitting for long hours increases the risk of cardiovascular disease mortality.
The long hours of driving are also bad for one’s emotional health. Road rage is a huge emotional drain and a very common occurrence (cite).
3. Being a taxi driver is very dangerous.
As a taxi driver, you are at least 20 times more likely than other workers to be murdered on the job . Taxi drivers deal with many risks every day. They risk being involved in car accidents every day. They are also at risk of being robbed, chauffeuring people under the influence of alcohol, and driving in dangerous areas of town. Taxi drivers must also always be aware of the bicyclists and pedestrians sharing the road, adding to the danger of harming someone else.
4. Taxi driver employment is expected to grow faster than average.
According to bls.gov’s Taxi drivers and chauffeurs page, taxi driver job opportunities should grow relatively quickly. This could be due to high employee (i.e. taxi driver) turnover or the increase in laws requiring that taxis have services for disabled people. Also, there are very few opportunities for advancement within a taxi company.
5. The top 10 U.S. cities in which people take taxis to work are: 
1. Bethel, AK (housing, pop. 5,471): 12.6%
2. Manhattan, NY (housing, pop. 1,537,195): 4.7%
3. Newburgh, NY (housing, pop. 28,259): 4.1%
4. Spring Valley, NY (housing, pop. 25,464): 3.8%
5. Asbury Park, NJ (housing, pop. 16,930): 3.8%
6. Monticello, NY (housing, pop. 6,512): 3.7%
7. Port Chester, NY (housing, pop. 27,867): 3.5%
8. LaGrange, GA (housing, pop. 25,998): 3.1%
9. Haverstraw, NY (housing, pop. 10,117): 3.0%
10. Lawrence, MA (housing, pop. 72,043): 3.0%
 Salary.com. Taxi driver salary wizard. Salary.com. salary.com. Web. 30 November 2011.
 Grynbaum, Michael M. 2 Taxi Medallions Sell for $1 Million Each. The New York Times. nytimes.com. Web. 20 October 2011. 30 November 2011.
 U.S. Department of Labor. OSHA Fact Sheet; Preventing Violence against Taxi and
For-Hire Drivers. Occupational Safety and Health Administration. The U.S. Department of Labor. osha.gov. PDF. 30 November 2011.
 City-Data.com. Top 101 cities with the most people taking a taxi to work (population 5000+). City-Data.com city-data.com. Web. 30 November 2011.