Jobs market will suffer a Brexit slowdown, say experts

'Significant proportion' of UK workers face falling living standards, with lower pay rises and higher unemployment predicted

British workers should brace themselves for rising unemployment and falling real pay in the year ahead as the impact of a Brexit slowdown is increasingly felt in the jobs market, reports have warned.

The era of rapidly increasing employment is over, according to the forecasting group EY Item Club, which on Monday predicted the unemployment rate will rise from 4.7% now to 5.4% in 2018 and 5.8% in 2019.

Related: Bank of England warns Brexit vote will damage living standards