Jim Cramer Is Keeping a Close Eye on Friday's Jobs Report

TheStreet's Jim Cramer awaits Friday's jobs report from the Labor Department and says it will play a key role in the Fed's decision on whether to raise interest rates. Cramer says, 'a jobs report that is robust will immediately activate Atlanta Fed President Dennis Lockhart and St. Louis Fed President James Bullard. Cramer says, 'they will come on if it's strong and say, listen we are now in shape to be able to have a rate hike, of course China is going to be closed [for their 2-day market holiday] but that will have a very negative impact if they come on. So if you even see them about to come on, or hear about it, expect the market to slide if there is a strong job number because these are the two Fed hawks, even though they're not voting, that really want a hike regardless of what happens in China. I think that's irresponsible.' Economists polled by Reuters are expecting U.S. employers to have added 220,000 non-farm jobs in August, that would be up from 215,000 in July. The unemployment rate is forecast to fall to 5.2 percent from 5.3 percent.