The mean equivalized income is an annual time series, reported in Euros. Equivalized income is the total available income of a household after being divided by the equivalent size of the household.
The total available income of the household is the sum of incomes of the household's members (income from salaried services, self-employment and immovable property, benefits of unemployment, pensions, family benefits, regular pecuniary transfers, etc.) In other words, according to the source, "it is the total net earnings coming from all the sources of income after the abstraction of by any benefits to other households".
Data comes from the annual Survey on Income and Living Conditions. This survey is the main source for comparable statistics on income distribution and social exclusion at European level.
A modified scale is used to calculate equivalent size of household. The OECD modified scale to measure equivalent size gives a weight of 1.0 to the first adult in the household, 0.5 to other persons aged 14 or over, and 0.3 to each child under the age of 14. For example, the equivalent size of a household consisting of two adults and two children under the age of 14 is 2.1 (from calculating 1 + 0.5 + 2 * 0.3).
Data may be subject to revisions.