There has been a surge in the pace of wage growth but a rise in the jobless rate following a big drop in the number of payrolled employees, according to the latest official figures.
The chair of the UK's competition regulator has been removed from his role by the government, amid its push for growth.
Marcus Bokkerink, the head of the Competition and Markets Authority (CMA), has been removed from his post by the business secretary.
It comes after Chancellor Rachel Reeves met with regulators last week to impress upon them the centrality of economic growth to their activities.
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Prime Minister Keir Starmer, along with Ms Reeves and the business secretary Jonathan Reynolds, wrote to watchdogs, including the CMA, Ofgem, and Ofwat on Christmas Eve telling them to remove barriers to economic growth.
The government repeatedly said growing the economy is their number one priority and has been critical of regulation. Ms Reeves used her first speech to Britain's most important gathering of financiers and business leaders to say post-financial crash regulation, saying it has "gone too far".
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Mr Bokkerink, a former senior partner at one of the world's biggest consulting firms Boston Consulting, was appointed in 2022 by then business secretary Kwasi Kwarteng. He could have served a five-year term.
A government source told Sky News: "This is a signal that we're serious about changing the culture of regulation in order to get growth. The government wants to show it is serious about investment."
The removal of the CMA chief comes as Ms Reeves and Mr Reynolds, who took the decision, arrived in Davos to court overseas investors at the annual World Economic Forum.
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The CMA is one of Britain's most important economic regulators with the power to examine, intervene and compel business practices.
Last week it launched an investigation into Google.
Replacing Mr Bokkerink is Doug Gurr, who will serve as interim chair. Mr Gurr is the director of the Natural History Museum and the former country manager of Amazon UK.
