Google just updated its Page Rank database. Since Google does not explicitly announce such an event, the general webmaster community identifies it by looking for updates to their site Page Ranks or others in their community.
While an increase in Page Rank does not necessarily have a significant effect on the traffic to your site or your ranking for search queries, and that the effect of PR has been continuously decreasing on SEO; it definitely feels better to see a longer green bar in the Google toolbar.
Google Toolbar Page Rank
It has been quite a while since the last update, reportedly around April 2010. So it must have been quite a wait for a lot of people. We advise not to give too much attention to this single number and focus more on on-page SEO, quality content and quality back-links. That said, we hope everybody received a higher Page Rank on this update.
To make you more at ease, here is the evidence of the last Google Pagerank Update – http://googlepagerankupdate.com/ – Hurry though as when they confirm this update as complete it will display the new date instead.
Thanks Jim, Looks like they are not aware of the latest update yet