After a bright start to the season, McCarthy's side have slumped to 16th in the Premier League table and the manager has admitted that the current scenario has dented his pride.
"I'm hurting as much as anyone," the boss told the club's official website. "I understand that because professionally, I hurt more than everyone else, certainly as much as fans do, and players because I've lost five games on the bounce.
"It's not my club, but it's my job, my profession.
"It's what I do, and it's what I'm good at, but unfortunately at the moment, it's not going particularly well."
However, McCarthy has targeted a victory from Saturday's match with Swansea City to make Molineux a "brighter" place.
"What am I going to do about it? Go and top myself or hang myself, or throw myself off my bike into the canal?" added McCarthy "No, I keep working to turn it around and get the right result on Saturday.
"And if we do then it will be a much brighter place."
The 52-year-old took over Wolves in 2006 after spells in charge of Millwall, the Republic or Ireland and Sunderland.