In what could be his last State of the City address later today, Mayor Michael Bloomberg is expected to discuss an economic recovery plan as he looks toward a possible third term in office.

That is, unless, he's elected to a third term now that term limits have been extended.

The mayor says he plans to talk about the difficult economic times facing New Yorkers, but noted that he isn't going to wallow in bad news.

"I am going to talk about some of the things that we can do without a lot of extra resources which we clearly don't have, to help New Yorkers weather the storm," said Bloomberg.

Bloomberg said he will present an economic recovery plan that focuses on job growth.

The address will take place at Brooklyn College and will be carried live on NY1 starting at 1 p.m.