Paycheck Protection Program Allows Firms to Add, Retain Employees Despite Declining Demand

A large share of construction firms promptly received loan funds under the new Paycheck Protection Program, enabling many of them to hire or retain employees despite a surge in project cancellations, according to a survey released April 24 by the Associated General Contractors of America. Association officials said the job-saving measure appeared to be working but cautioned that longer term recovery measures, like new infrastructure funding and establishing a recovery fund, are needed....

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