Well since Nepotism is derived from the Latin for nephew, since historically it refers to the tendency of some officials in the Catholic Church to appoint their "nephews" to offices of prestige, Lois and Clark appointing Jimmy Jr. to a position is literally nepotism.
Although Jimmy is not a "nephew" in the sense of historic nepotism. In historic nepotism many of those involved were actual sons, but those perpetrating it tried to cover that scandolous fact, since they were under vows of celibacy.
On the other hand Jimmy Jr.'s father has a long-connection with the Daily Planet, even if he might not be with the Planet anymore (I am not sure), so in the current use of nepotism to mean appointing or promoting family members within an organization, this would seem to make Jimmy Jr.'s appointment even more a case of Nepotism. Lois and Clark seem to be running the DP newsroom almost like a family business. No matter how qualified for the positon Jimmy Jr. is, I can see people complaining a lot about such promotion of family members.
