First, here's an excellent interactive graphic from USA Today (HT to Chartporn) that you can use in the classroom. My specific suggestion is to look at the top chart, and then examine each of the 11 component indicators below it. For each component, before clicking on each, ask the students whether they think it is a leading indicator, a concurrent indicator, or a lagging indicator and explain why. Then click on the indicator and see if it has bottomed or has a way to go.
And, here's a limerick that your students can probably identify with, and explain why it may or may not be an informal indicator of recovery.
I may have more later today.