https://www.investopedia.com/ask/answers/what-are-leading-lagging-and-coincident-indicators/

Lagging Indicators

Lagging indicators can only be known after the event, but that doesn't make them useless. They can clarify and confirm a pattern that is occurring over time.

The ~~unemployment rate~~watters worldis one of the most reliable lagging indicators. If the unemployment rate rose last month and the month before, it indicates that the overall economy has been doing poorly and may well continue to do poorly.

The consumer price index (CPI), which measures changes in the inflation rate, is another closely watched lagging indicator. There are few events that cause more economic ripple effects than price increases. Both the overall number and prices in key industries like fuel or medical costs are of interest.