If I want to get good funding for my PhD/look good on the job market later, then yes. Hopefully by the end of this year I will have two, but you never know. It is very much publications and research that get you jobs here, not teaching. In fact, if you teach too much you can shoot yourself in the foot (with experience you gain a "value", and you can eventually become too expensive to employ, all without having achieved many publications!) But teaching does not get you tenure, publications do, and it is getting to the point where you need to have written a book, not just a bunch of articles.
But it is also different by country. In France, for instance, publications while at graduate level are discouraged, and the job market is ever worse (much more about who you know, even worse than abroad).