Other utilities like ExifTool or Exiv2 are much more capable, but at the price of complexity.
found, without executing any other command (like jhead): find. You can also use find to just show all the files that would be. In order to perform recursion into subdirectories, you could to combine it with the find command available on Linux/Unix/Mac (or Cygwin for Windows): find. jhead with find, for going through subdirectories Sets a bunch of files so that the file timestamp matches EXIF. Of these, for this very simple task, jhead is my suggestion.
This is the inverse of Is there any software which will set the EXIF Dates based on the file's modification date?, and I'm sure all of the programs listed there will apply.