Good afternoon: Today's PM — edited by Justin Green — is 500 words, a 2-minute read.
🚨Sen. Richard Burr is stepping down as chairman of the Senate Intelligence Committee pending an investigation into possible insider trading.
The number of people receiving unemployment benefits is at its highest level — 22.8 million — in American history.
The big picture: 36 million Americans have filed jobless claims in the past two months, including 3 million last week, the lowest tally of that span, Axios' Courtenay Brown reports.
The better news: For those who've managed to get applications approved, the extra $600 a week should help avert household financial catastrophe.
The bad news: The extra cash won't last forever, and timelines for economic recovery are becoming less optimistic.
The worst news: Most of the layoffs so far have been considered temporary, but that could change if their employers close for good in the months to come.
Between the lines: The pace of new applications has slowed from its peak in March, but the weekly numbers are still way higher than before businesses shuttered to contain the outbreak, Courtenay notes.
The bottom line: Measuring the backlog is "like trying to measure the ocean, it's constantly moving," said New York Labor Department commissioner Roberta Reardon.
The former head of the Biomedical Advanced Research and Development Authority told Congress today that the U.S. doesn't have a plan to distribute a vaccine for the coronavirus "in a fair and equitable manner."
President Trump's response: "To me, he is nothing more than a really disgruntled, unhappy person. ... I don't know, I never met him, I don't want to meet him, but I watched him, and he looks like an angry, disgruntled employee who, frankly, according to some people, didn't do a very good job."
Fans of the German soccer club Borussia Mönchengladbach are buying cardboard characters that will be printed and then displayed at the stadium should the Bundesliga continue with matches behind closed doors.
Welcome to "Quaranchella," where musician Adam Chester — who subs for Elton John in rehearsals with the rocker’s band — plays weekly, socially distant concerts in his suburban Los Angeles cul-de-sac. [AP]