First question: ARE there in fact any great similarities between Dwarves and Jews? In my opinion, not really, and what few there are are purely coincidental. OTOH Tolkien's Dwarves are drawn pretty directly from the Dwarves of Norse mythology. All their important characteristics are shared: superior craftsmanship, dwelling underground by preference, the shapes of runes (though admittedly that might be due to both being suited to carving into stone). The correspondence is even more obvious from the fact that pretty much all of Tolkien's Dwarvish names are drawn directly from the Elder Eddas.
Second, did Tolkien ever really develop the Dwarvish language? He explicitly states in LOTR that nothing is known of it other than the few place names and battle cries used by Gimli, and that would hardly be enough to determine whether there's any similarity to Hebrew.
Perhaps it might be thought that a similarity is found between Khuzdul as the private, secret language of the Dwarves, and the use of Hebrew among the Jews. But this really isn't the case: Hebrew was known to many non-Jewish scholars, and not spoken by many Jews. Modern Hebrew as used in Israel is really a reconstruction or re-adoption, not a continuation of a language in general use.
PS: Just to mention a few of the many ways in which Tolkien's Dwarves differ from European Jews, either in reality or in stereotype.
Dwarves are "a tough, thrawn race for the most part", and have a reputation as fearsome warriors. Jews are, or were when Tolkien was writing LOTR (mostly prior to the founding of Israel), the perennial scapegoats who never fought back.
Jews were exiles from their homeland. Dwarves had homes in many places: Moria and later Erebor were not their only homes, just particularly prosperous dwellings among many.
Jews were, particularly in stereotype, primarily moneylenders, pawnbrokers, small traders, and so on, and were regarded with suspicion & contempt. Dwarves were miners and craftspeople. and were respected. Consider the relationships between the Dwarves of Erebor and the Men of Dale, with Dain fighting alongside King Brand in common defense against Sauron's forces, or the way Dwarves travel freely through Bree, and Thorin has no hesitation in addressing Gandalf, and inviting him to his home...