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There is no indication whatsoever when Giants came about. Hobbits are considered to have originated, if one can call it that, some time during the Third Age. Tolkien doesn't actually say that Giants are human. We tend to think that, but there's no indication that Giants are any more human than they are anything else.
Hobbits, however, are a different story. Their origin is shrouded in the mists of time, as Tolkien would say (and probably did), and they are believed to have had their start in the vales of the Anduin between the Misty mountains and Rhovanion (Mirkwood).
Hobbits seem to be most closely related to the Eorlings, for their speech is actually somewhat similar. (Holbytla) Both peoples came from the same region.
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