The conventional wisdom is that his focus on health care instead of jobs is one reason for the sharp decline in his popularity over the last year. (To put it in perspective, however, no president would have sustained the popularity Obama had when he was inaugurated, and his approval rating, now around 49%, is not too far off the percent of people who voted for him in 2008.)
If the conventional wisdom is true, we'd expect Obama's support among people who are worried about their jobs to have fallen by more than it has for the relatively well-off. Is this in fact the case? Unfortunately, I can't find polling data from 2009 to compare to recent data. But Gallup issued a report in February that broke down presidential approval by employment status. It found that Obama has more support among the "underemployed" than among the fully employed:

Obama has stronger support among the underemployed than among the employed. On reflection, this is not surprising - Obama's most vocal opposition is from the Tea Party crowd, who look to me like mid-level, white-collar, self-employed, retired types, not the unemployed rabble.
This tells me that more emphasis on jobs would not necessarily help Obama. In fact, one could argue that access to health care is one of the primary concerns facing the underemployed. Obama's focus on health care may actually work in his favor among this group. The Gallup report doesn't answer this question, but it presents some alarming data on how being underemployed affects access to health care:

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