An electrical submersible pump assembly includes a centrifugal pump having impellers and diffusers. A thrust runner is coupled to a motor shaft for rotation along with the impellers. The runner receives thrust from at least one of the impellers and transfers the thrust to a bushing non rotatably mounted in one of the diffusers. The bushing has a thrust transferring end adjacent a thrust receiving shoulder in the diffuser. The bushing is axially movable in the receptacle. An annular spring located between the thrust receiving shoulder in the receptacle and the thrust transferring end of the bushing urges the bushing away from the thrust receiving shoulder.
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