Yes, there is a trash folder where all photos and albums that have been deleted in the past 7 days are stored.
You can find the trash under Photo Jobs -> Trash.
Entire albums, including all photos, can be recovered. However, it is not possible for individual photos or entire photo jobs to be restored. The overview will show when the photos were originally deleted, as well as when they will be permanently erased. Once photos have been permanently deleted from the trash, it is impossible for us to recover them.
Note: Photos stored in the trash will continue to use your storage space until they are permanently deleted.