One of the fun aspects of maintaining a website or blog, has been to witness how your PageRank would increase over time. Getting a higher PR would usually require time and hard work, but Google has not updated the toolbar pagerank for years..
And sadly, PR updates were far between, and when they finally did occur, it would often be without us knowing that they took place.
Google has stated that toolbar PageRank is no longer updated, at least not intentionally. To the question of when the next Google PageRank update would take place, John Mueller of Google answered:
probably never. This was in a webmasters hangout video on YouTube, you can see the video here:
The exact place in the video is around 53:15
PageRank not important
The toolbar only shows an outdated value, so its hard to know the actual true values which only Google knows. To many website owners PageRank was merely a nice number to look at, and it could give them a sense of achievement. Some also used it as a measure of trustworthiness of a site.
What matters is the position of pages in the SERPs. Unlike a simple number on a toolbar, the clicks they get, is something that really can be felt.