The latest public firmware version is iOS 8.1.3 with a build number of 12B466. While the latest firmware that can be jailbroken is iOS 8.1.2 with the build number of 12B440. This means that iOS 8.1.3 is a minor release with very minor improvements that most users won't notice. Now iOS 8.2 beta 5 is still being tested by some developers. This firmware has a build number of 12d5480a, which suggests major improvements. iOS 8.3 beta 1 has been released to registered Apple developers. This suggests that iOS 8.2 will be released within the next month. This new build has a revised build number of 12F5027d. This again suggests major improvement from iOS 8.2 beta 5 to iOS 8.3 beta 1.
Now jailbreakers are waiting for the next jailbreak. The next jailbreak will most likely be for iOS 8.2. If a new jailbreak would pop-up for iOS 8.1.3 those exploits would be wasted. This is said in iCu's video below.