Last week, President Trump signed into law a new bill that effectively relaxes Paycheck Protection Program loan requirements for many small businesses—the Paycheck Protection Forgiveness Act. 

The law allows businesses a bit more leeway concerning where the money coming from the loans, part of the Coronavirus Aid, Relief and Economic Security (CARES) Act, are spent, as well as a few other key points. Here's what you need to know: 

WASHINGTON—The construction industry added 464,000 net new jobs in May, according to an Associated Builders and Contractors analysis of data released by the U.S. Bureau of Labor Statistics. May represented the largest monthly increase in construction jobs since the government began tracking employment in 1939, a drastic improvement from April, which recorded the industry’s largest month-over-month job loss.

Construction spending dropped 2.9% in April, according to data released this week by the United States Commerce Department. The department cited the ongoing coronavirus pandemic and project shutdowns across the country as the drivers behind the decrease.