According to the page, that’s using an imaginary unit called “international dollars” (which I just learned exists), which is used for comparing countries’ economies. It doesn’t reflect the real amount in US dollars. In US dollars the median US salary is just under $60,000. https://www.bls.gov/news.release/pdf/wkyeng.pdf

On mine it appears to be a regular setting under the display options called “camera cutout”. I do have developer options enabled though, so maybe that doesn’t appear for people who don’t.

Android (or at least my Galaxy) has a setting that lets you disable the portion of the screen where the notch is, which makes it essentially identical to a phone with no notch.