While Wolves dominated in terms of possession, Shrewsbury had two excellent early second-half chances to pull off a famous win with Miles Storey being denied by goalkeeper Carl Ikeme and Conor Goldson heading narrowly wide in the 53rd minute - only moments after he had cleared off the line from Scott Golbourne.
Wolves continued to press right into stoppage time but goalkeeper Joe Anyon denied them a late winner when he saved from Matt Doherty's header.
Shrewsbury remain deep in relegation trouble after winning just one of their last 12 games.
But manager Jackson took heart from the display and was disappointed that they did not pull off a shock win when Tom Eaves wasted a golden chance in stoppage time.
He said: "In the first half we did really well once we got to grips with the game. We had some good spells with the ball and some good counter attacks and in the second half we ran out of a bit of puff.
"We rode our luck at the back end - and Joe has made a great save - but you will have to do that when you come here.
"I knew that would happen but then we go away at the other end and we should score.
"We have just had a massive big row between us all and that shows how passionate we are. You come to Wolves and it is 0-0 and we are rowing in there between ourselves.
"We should have finished it off."
Jackson opted for a change in tactics to frustrate Wolves with three at the back and two wing-backs and he added: "I had watched Wolves play and with the power they have got they destroy people.
"We rode our luck a little bit but it was a really good point and coming here no-one would have given us that. It shows what we can do with that sort of defending.
"We have to take this display into Tuesday (against Colchester) and build on that. It just the belief and hopefully now they are starting to see it more."