The Gunners have already suffered four defeats this season, leaving the North Londoners 12 points off the pace in the Premier League table ahead of Saturday's North London derby with Tottenham Hotspur.
However, Iwobi has claimed that Wenger remains unfazed over comments about his job, insisting that the Frenchman always focuses his attention on the next game.
The 21-year-old told Soccer Laduma: "I think he is a very good man. He is very patient. Wherever he goes, there are going to be critics. He is getting these comments, but I think he is dealing with it very well. He is focused on the next job, on the next game.
"He doesn't really let the critics get to him. At the end of the day, fans are entitled to say what they want to say. But the coach keeps on pushing. He is well respected and everyone has his back."
Iwobi has scored once in eight appearances for Arsenal in all competitions this season.