Key labor‑market data contradict both parts of Sacks’s prediction.

1. "Employment has peaked" by May 2022

• In May 2022 the labor market was still adding large numbers of jobs: nonfarm payrolls rose by about 241,000 that month, and then continued to increase every single month through the rest of 2022 and throughout 2023. Total nonfarm employment expanded further in 2024 (over 2 million additional jobs that year), showing that aggregate employment clearly peaked after 2022, not in May 2022. (bls.gov)
• BLS data for April 2023–April 2024 alone show payrolls rising from 155.5 million to 158.3 million, again demonstrating that employment levels were making new highs well past the prediction date. (bls.gov)

2. "Unemployment's going up" from the May 2022 lows in the ensuing months

• At the time of the episode, the U.S. unemployment rate was 3.6% in May 2022, the third consecutive month at that level. (virginiaworks.gov)
• In the following months, unemployment did not begin a sustained rise. It actually dipped to 3.5% in July 2022 (matching pre‑COVID lows) and was again 3.5% a year later in July 2023. (realestateguysradio.com)
• The jobless rate then fell further to 3.4% in 2023, a new roughly 50‑year low, meaning the post‑May‑2022 period included lower unemployment than at the time of his prediction, not an immediate uptrend. (apnews.com)
• A clear and lasting rise in unemployment only shows up later, with the national rate climbing into the low‑4% range by mid‑2024 and around 4.1% by early 2025—well after the “ensuing months” Sacks was talking about. (bls.gov)

Because (a) total employment continued to make new highs for years after May 2022, contradicting the claim that it had already peaked, and (b) unemployment first stayed flat/edges lower and even hit new lows before rising meaningfully much later, Sacks’s prediction is best classified as wrong.