This bulletin provides a summary of economic developments at the end of the first financial year 2021/22 (April-March 2021).  The first section - The Global Economy Outlook,  highlights key developments in the global economy as these bear significance on the Gauteng City Region (GCR) economy.   This is followed by Fragmented Recovery | Economic Growth but No Jobs, which unpacks the latest Gross Domestic Product (GDP) and labour figures within the domestic economy; and elucidates the labour mismatch within the economy, particularly among marginalised groups such as women and youth. The envisioned future trajectory is summarised in the last section.