TREASURIES-Bonds dip in profit taking after recent rally

* Jobless claims fell for second straight week last week

* Investors look ahead to August payrolls data on Friday (Adds trader quote)

NEW YORK, Sept 2 (Reuters) - U.S. Treasury debt prices eased on Thursday as some strength on Wall Street undermined the safe-haven appeal of government debt, and with investors taking some profits from the recent hefty bond rally.

Data showed U.S. initial claims for unemployment data slipped for a second week last week, further lending a bearish tone to Treasuries.

"The market has had a nice rally over the last month and there is some profit taking going on. Stocks are looking like they are going to open up positive again today, so there is just some money being taken off the table in Treasuries," said Rick Klingman, managing director of Treasury trading at BNP Paribas in New York.

Benchmark 10-year Treasury notes US10YT=RR were trading 11/32 lower in price to yield 2.61 percent, up from 2.58 percent late on Wednesday, while the 30-year bond US30YT=RR was 25/32 lower to yield 3.69 percent from 3.65 percent.

Stock futures pointed to a higher open on Wall Street on Thursday.

Treasuries prices have surged since early April, initially motivated by fears of fallout from a credit crisis in Europe, then spurred by mounting anxiety the U.S. economic recovery was sputtering.

The government said on Thursday that initial claims for state unemployment benefits slipped 6,000 to a seasonally adjusted 472,000 in the week ended Aug. 28. Analysts polled by Reuters had forecast claims edging up to 475,000 from the previously reported 473,000 the prior week, which was revised up to 478,000 in Thursday's report.

Treasuries trade was expected to remain relatively range bound as investors looked ahead to the release of non-farm payrolls and unemployment data on Friday.

The median of forecasts from economists polled by Reuters is for a payrolls contraction of 100,000 after employers shed 131,000 jobs in July. (Reporting by Chris Reese: Editing by Chizu Nomiyama)