The Gunners have fallen to eighth in the Premier League and have won just two of their last 11 fixtures in the competition.
That embarrassing incident follows a host of unrest among fans following the draw with Southampton, with club legend Tony Adams among those to be critical of Emery's work.
And below are every word Carragher spoke to the north London club during his review on Sky Sports.
The presence of Jose Mourinho at Tottenham could force Arsenal into a managerial change, says Tony Adams, with the Gunners "going backwards" under Unai Emery. "They need it more than me because they're on the pitch and they need to feel them backing them over 90 minutes".
'I know some teams come here and are fearless against us, and we need to be strong for our supporters but first we need to reconnect with them.
Amid that building pressure the Daily Mail has claimed that Santo, who has spearheaded Wolves' rise to prominence following their takeover by wealthy Chinese owners, is the leading candidate to replace Emery.
Emery said earlier this month that he was unsure whether the Swiss worldwide would play for the club again.
He managed to lead Arsenal to the Europa League final in his first year in charge, but failing to beat their bitter rivals Chelsea has affected both Unai Emery and his team very badly. "We need to show our supporters our capacity and skills".
"In my career 15 years I had some situations like today", he added.
"I am feeling that responsibility to come back, the responsibility to analyse, and to work and improve to achieve our performance". Fans will be hoping that whoever the new manager happens to be, they will get the team back into the Champions League.
He's one of three Arsenal players to feature in all 13 of their Premier League games this season.
"We know that we are playing for a big club and we have to go out and fight every match".
"We talked about following the rules or customizing, this is a person who prefers to play 4-2-3-1, we look at his formations, how many times he changes them".