What to Watch Friday: August Employment Report Set to Be Released

For Friday September 4, TheStreet focuses on an important economic report. All eyes are on the August Jobs report, which reflects the economy's health. The U.S. Bureau of Labor Statistics is set to release the employment situation report at 8:30 a.m. Eastern. For August, economists are expecting about 220,000 jobs to have been added, an increase from 215,000 jobs added in the month of July. In addition to these numbers, the unemployment rate is expected to be at 5.2%, slightly down from July's unemployment rate of 5.3%. The Federal Reserve is paying close attention to these numbers since it is the last employment report before its crucial September 16 to 17 policy meeting. TheStreet's Jim Cramer commented on what will happen if the jobs numbers are strong Friday, saying, 'A jobs report that's robust will immediately activate Dennis Lockhart and James Bullard…these are the Atlanta and St. Louis Fed heads. They will come on if it's strong and say listen,We are now in shape to be able to have a rate hike.' TheStreet's U-Jin Lee reports.