Cook the bacon in a 10-inch skillet over medium heat. Stir it now and then. Cook until the fat melts and the edges turn crisp, about 9 minutes
Remove from heat. Using a slotted spoon, transfer bacon to a paper towel-lined plate. Pour drippings into a heatproof measuring cup.
Add 2 tablespoons of drippings back to the skillet; reserve the remaining drippings for another use.
Add the onion and cooked bacon to the skillet; cook over medium, stirring often, until the onion is golden brown, about 8 minutes.
Stir in brown sugar, 1 tablespoon water, smoked paprika, and Worcestershire into the bacon mixture.
Cook for 15 to 30 seconds, stirring the whole time, until it turns glossy and syrupy.
Remove from heat, then transfer the mixture to a heatproof measuring cup or bowl. Let cool slightly, about 5 minutes.
Beat goat cheese, cream cheese, oil, and salt with an electric mixer fitted with a whisk attachment on medium speed until smooth and creamy, about 30 seconds.
Spread the goat cheese mixture inside a shallow bowl. Top with Smoky Bacon Jam, and garnish with thyme leaves.
Serve with Easy Fried Crackers or crostini. ( Recipes are included in the recipe notes.)