Grease a 13 x 9 x 2-inch baking pan or a 3-quart rectangular baking dish; set aside. Preheat oven to 350 degrees F if using a baking pan or 325 degrees F if using a baking dish.
In a large bowl combine cream cheese, granulated sugar, and butter; beat with an electric mixer on medium speed until smooth. Add 3/4 cup of the flour, the eggs, milk, baking powder, baking soda, vanilla, and salt. Beat about 1 minute more or until combined. Add the remaining 1 cup flour, beating on low speed just until combined. Spread batter evenly in the prepared baking pan or dish. In a small bowl stir jam with a spoon until nearly smooth. Spoon jam in eight to ten mounds on top of the batter in the baking pan or dish. Using a thin spatula or knife, swirl jam into batter.
Bake for 30 to 35 minutes or until toothpick inserted into cake portion near center comes out clean. Cool cake in pan or dish on a wire rack for 30 minutes. Dust with powdered sugar and, if desired, serve with raspberries. Serve warm.