Will increased pagerank increase traffic from google?
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I got notified that my domain went from a google pagerank of 3 to 4. When this happens, does google raise me in the searches which can then hopefully get me more traffic, or is it a worthless number. Maybe only google knows

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pagerank has no direct impact on ranking. It's just a tiny signal - a site with little pagerank can outrank a site with high pagerank.
In any case the rank you see is the public level which is never current and Google seldom does an update. I ignore pagerank.
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Thank you for your response. I thought it may still do something since they still have it around and it does update from time to time.
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Not exactly. In a nutshell - no. But sometimes if your PR is 5 and higher it is a good sign that your site has good content and good back links from trusted sites. This is what donates to your reputation (irony)). But there is no direct connection with ranking and quantity of traffic to the site.