One of my Team Members with "limited access" is able to see Contacts and Jobs they are not assigned to. Why?

Check your Workflow settings. If the Access Profile assigned to the Workflow is "All Team Members", any Team Member will be able to see those records, regardless of their individually assigned profile. 

To update this, edit the Workflow and change who can view the Contacts to "Only Team Members that are Sales Reps or assignees".