The Anchorage Economic Development Corporation (AEDC) released its economic forecast for 2018 at a luncheon in downtown Anchorage on Wednesday. AEDC believes this year will "mark the bottom of the recession".

This year's forecast predicts an employment decline of about 1,000 jobs, however, after the year is done, AEDC predicts the economy will turn around. 

"Beyond 2018 we predict a return to growth. Increasing natural resource values, a robust visitor industry, and other forces noted below bode well for Alaska," according to the economic forecast. "With Anchorage accounting for more than half of Alaska’s total GDP of $50 billion, what’s good for Alaska is good for Anchorage, and vice versa."

Read the full forecast below. 

Copyright 2018 KTVA. All rights reserved.