Obviously, there's quite a lot of copyrighted material circulating on the Internet without authorization, and other things equal, one would like to see less of it. But does the best available evidence show that this is inflicting such catastrophic economic harm—that it is depressing so much output, and destroying so many jobs—that Congress has no option but to Do Something immediately?
Spoiler: No.
Even if Hollywood was able to magically convert all pirates into paying digital distribution customers, there would be no increase in jobs as unlimited digital copies require effectively zero cost and little if any labor after the first copy is made.