Apple has made available the latest version of the iOS operating system, iOS 6.1. This update brings with it a few minor features, such as LTE support for more carriers, the baility to purchase movie tickets through Fandango by asking Siri, a button to reset the advertising identifier, and the ability for iTunes Match subscribers to download individual songs from iCloud.
The update comes in at 86.7MB for the iPhone 5 and should probably be downloaded over Wi-Fi. The update can be installed over-the-air or via iTunes, like most updates. Hopefully now that iOS6.1 is out, some of those jailbreaking groups will get running with the new version finding bugs and eventually producing a working jailbreak for the iPhone 5.
Previously, these jailbreaking groups have said they have about four bugs and working jailbreaks in-house, but didn't want to publicly release them for fear of losing the bugs and possibly being locked out of the system completely. Most groups have said that a jailbreak will likely be made available for the iPhone 5 once iOS 6.1 came out.