I would say yes. That is where the physical restraints to the shaft are. In theory the rotor should never touch the internal bushings. And, when it does, it is cushioned to some degree by the liquid being pumped.
In my experience this type of pump is difficult to balance because of the repeatability problem. Take it apart, do nothing and re assemble and you will likely find a large discrepancy in the unbalance from the initial run. Caused 9 times out of 10 by non square faces of the impellers and spacers. The tighter one does retaining nuts the more the shaft will bend thus changing the centerline of the rotating mass.
For what it is worth, in our shop we would balance each impeller separately except for the two end ones. Then assemble the complete rotor. Check the runout, if it changes depending on how tight the retaining nuts are then back to the machine shop to face each side of the impellers and sleeves (mounted on a mandrel so that both sides can be machined from the same setup.
Only when tightening makes no difference will we then balance the element. Removing material from the end impellers to remove the "couple" and spaced along the middle to remove any static.
And, check it at several operating speeds to ensure that the rotor is not significantly flexing at speed. If it does then it must finally be balanced at the operating speed.
Good luck
Ralph