The time evolution of the density corresponding to the polarization operator, originally constructed to commute with the Dirac Hamiltonian in the absence of an external electromagnetic field, is investigated in terms of the time-dependent Dirac equation taking the presence of an external electromagnetic field into account. It is found that this time evolution leads to 'tensorial' and 'vectorial' particle current densities and to the interaction of the spin density with the external electromagnetic field. As the time evolution of the spin density does not refer to a constant of motion (continuity condition) it only serves as auxiliary density. By taking the non-relativistic limit, it is shown that the polarization, spin and magnetization densities are independent of electric field effects and, in addition, no preferred directions can be defined.