The Black Country outfit are in League One following successive relegations from the Premier League and the Championship.
However, they have responded under Jackett's management, having picked up 13 points from their opening five matches.
"We can't be disappointed with 13 points from 15 so that's very good," the Express & Star quotes him as saying.
"It gives the players and supporters belief that they can do it and we can have a good season after some disappointing ones.
"Yes, we should be encouraged by the results and performances and we should also realise we're not going to have everything our own way. Things aren't going to be easy."
Next up for Wolves is a home match against Swindon Town on Saturday afternoon.