Correct. It is a Yiddish word borrowed from Polish (although the Slavic Poles pronounce it more like “Bob.”).
Props to you on correct pronunciation of schlub
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schlub
One entry found for schlub.
Main Entry: schlub
Variant(s): also shlub /’shl&b/
Function: noun
Etymology: Yiddish zhlob, zhlub yokel, boor
slang : a stupid, worthless, or unattractive person