Matt Cutts officially announced on Twitter the official release of the latest Google algorithm updatee on May 20. Though Google had said they were going to stop updating us on these algorithm changes because they were a constant rolling monthly update, this is apparently a big one, with some significant changes. Keep an eye out for significant adjustments to your rankings and organic traffic.
In the coming weeks and months we will have a better idea of the specifics, but most likely more targeting of the same unethical issues. They are mostly targeting poor content websites so continuing to offer good, unique content is always the answer. I will be attending SMX Advanced in June and there will be a lot of discussion about this, changes to local, and some of the shifts in PPC reporting this year. I will keep you updated.