I talked to a few of my professors today about the ranking change, and they had very interesting things to say. Of course they reminded us that the school and quality have not changed one bit since yesterday. Also, I learned that Emory is incredibly honest about its employment statistics. For instance, the school doesn't hire people for a few months just so they can be counted as employed (it's kind of crazy that some schools actually do this). One of my profs also said that a lot of people got an LLM that year for some reason, and based on the new methodology US News counted them as unemployed.
I also wanted to remind people of the most recent NLJ numbers. While the high regional no offer rate greatly affected a bunch of Southern schools that year, Emory remained very stable. Emory also has better numbers on this metric than many of the schools currently ranked above it *cough WUSTL-Illinios-W&M-Davis-Iowa-Minnesota-IUB cough*. I know that NLJ ranking isn't a perfect measurement because some places have more of these firms than others, but I just wanted to let people know that things aren't as dire as they might seem.
Seriously, Emory is an amazing place to be. I don't regret passing up similar scholarships at W&M, Davis, and BC one bit.