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WASHINGTON (MarketWatch) - The number of U.S. residents collecting state unemployment benefits reached the highest level in 25 years, rising by 122,000 to a seasonally adjusted 3.84 million in the week ending Oct. 25, the Labor Department reported Thursday. Meanwhile, the number of first-time applications for benefits fell by 4,000 to 481,000 in the week ending Nov. 1, the government agency added. Compared with the same week a year ago, new jobless claims are up about 45%, while continuing claims are up 46%.