Yes it matters  

Yes, a pilot can lose their pilot certificate for falsifying flight hours on an employment application. The FAA can revoke or suspend any airman certificate if they determine a pilot falsified a required document, and falsifying flight hours on an application is considered falsifying a required document. This can lead to the loss of all certificates, including the pilot's license, and could also lead to criminal charges. [1, 2, 3]  

• Falsification of Documents: The FAA takes falsification of required documents very seriously. This includes falsifying flight logs or flight hours on applications. [1, 2, 3]  
• Consequences: The FAA can revoke or suspend a pilot's certificate if they find falsification. This means the pilot will lose their ability to fly and may have to retake tests to regain their certificates. [1, 2, 3, 4]  
• Criminal Charges: Falsifying information on a federal application can also lead to criminal charges and fines. [3]  
• Materiality: The FAA focuses on the materiality of the falsification, meaning the importance of the false information to the application. [3]  
• Intentionality: If the falsification is intentional, the FAA will likely pursue revocation of the pilot's certificate. [3]  
• Mitigation: If a pilot realizes they have inadvertently made a mistake on their medical certificate application, they may be able to amend the application or take other mitigating steps, says the AOPA. [5]