Poor African Americans
African Americans were being the first to be laid off and with the music business on the verge of collapsing African Americans had nothing so they had it worse then whites.
In the 20s African Americans were finally gaining the respect they deserved, Farmers in the early 20s were selling major amounts of food products for the army, women now gained the 19th amendment which got them the right to vote. Modernism and social darwinism was taking over the country. People began buying everything on the market that they didn't have, but no one could actually afford these products so they started buying off of credit. Their debt kept on rising and rising, but they just didn't care. Then, people started investing in stock. But, soon they figured out the companies they invested in weren't doing that well after all, because everyone was paying by credit so they didn't actually make money. But, now that their products were “selling” they made a surplus amount of products. People then started dropping all of their stock which led to the stock market crash. Which was one of the many factors that caused the great depression.
African Americans shaped the music industry in the 1920s and basically created jazz