It’s a play on words, Phoo.
The Hasidic Jews are a very religious Jewish group. There is a high concentration of Hasidic Jews in and around New York City. Jews are also stereotypically seen as frequently working in (and being very successful in) the jewelry business. “The Hasidic Jewelers” is apparently the name of (or a joke name for) a softball team.
The play on words: Jew and jeweler