Reply #5: Yes, but it's an illusion.

[TexasObserver]

As jobs are cut, the current COSTS drop and that makes the spread between COSTS and REVENUES greater, which makes the perceived production increase as a function of dollars spent by the business to produce the goods or services.

Simply put, firing people lowers overall costs, and that results in a short term savings that makes such short term periods appear more productive than they are.