The time people spend on social networks has grown 82 percent year-over-year between May 2008 and 2009, according to Nielsen. The average time per person has grown 62 percent in that period. Twitter’s still the fastest growing of the group, though before the Iran elections growth was beginning to slow down, actually declining one percent in April. The average time spent on the microblogging service has nearly tripled year-over-year, growing from an average of 6 minutes and 19 seconds in May 2008 to 17 minutes and 21 seconds in May 2009, an increase of 175 percent.

While MySpace has officially lost the war -- today announcing the proposed layoffs of 300 of its 450 international employees after having announced the reduction of 30 percent of its U.S. staff last week -- it’s still the number one social networking site for video streaming.

Video viewing is one of the few areas of MySpace growth, increasing 22.9 percent between April and May 2009. That counts for something, right?

According to Nielsen, Facebook has been the number one social networking site for the last seven months. Last month, the site had 144.3 million unique visitors, according to Nielsen. And while for a period the U.S. was MySpace's last bastion, Facebook, whose global year-over-year growth is 190 percent, has been the most popular social networking site in this country for the last five months.

Yesterday at the O’Reilly Velocity conference in San Jose, keynoter Jonathan Heiliger, Facebook vice president of technical operations, gave some more interesting stats.

Heigler said that the ‘like’ feature, which was not expected by the company to be as popular as it is, was used 7.1 million times by 4.1 million users in the first 24 hours of its launch, and 226.8 million things were liked in the first month.

By Mark Alvarez