Wolves have failed to live up to expectations this season, and they are currently stuck in a mid-table position in the Championship.
After Wolves threw away a two-goal advantage against Bolton Wanderers in midweek, the Midlands side were booed off by their own fans, but Jackett sympathises with his side’s followers.
“I can understand the reaction at the end because the fans are looking for us to sweep teams away and that is our aim as well,” Jackett said.
“If we can, we want to be able to do that at Molineux but we didn’t. It was quite a flat night and that comes off the team on the pitch.
“There has to be an honest assessment of where we are. You need to be able to press and win the ball high up the pitch and then keep it.”
Wolves had taken a commanding lead against Bolton through goals from Joe Mason and James Henry.
However, the relegation threatened Trotters never gave up in their pursuit of the three points, and they eventually got their reward in the closing stages.
Bolton scored their first goal through Wellington Silva, before a deflected Stephen Dobbie free-kick ensured that the points would be shared.
Wolves are nine points behind the top six, and with their promotion hopes fading, they are under pressure to get back to winning ways at the weekend when they take on Reading.