This paper provides the first direct evidence on how the labor mobility of immigrants cushions natives during a labor demand shock. Spain was one of the hardest-hit economies during the Great Recession. Faced with a drop in the local labor demand, immigrant workers moved to other locations in Spain or left the country, generating significant decreases in labor supply. Focusing on this episode, using microdata from municipal registers and longitudinal Spanish administrative data, I study the effects of out-migration of the immigrant population from a province on the wages and employment of the remaining natives. I build a shift-share instrument based on the past settlements of the immigrant population across Spain to instrument outflows and argue for a causal relationship. I find that out-migration of immigrants slowed down the decline in employment and wage of the natives, especially for those with higher substitutability with the leaving population. Moreover, I find that employment effects are driven by increased entry to the employment of individuals who were unemployed or inactive, while wage effects were limited to those who were already employed. These findings indicate that through their mobility, immigrants diffused the incidence of local shocks and cushioned the natives by slowing down decline in their wages and employment.