Core libraries like those that are in the arduino\hardware\arduino\avr\libraries folder will be updated but ones in your sketchbook\libraries should not.
Did you know that if you download the zip version of the IDE, extract it and create a folder named portable within the extracted arduino folder that it will become a portable version where the sketchbook folder and any other cores you download will be stored in the portable folder you created. This makes it easy to have several versions of the IDE on your system that don't interfere with each other or when you update to a newer IDE (zip version - not installer version) just copy/move the portable folder into the extracted arduino folder and you have all your cores/libraries/sketches ready to go without having to download them again.
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