A wall may or may not help. You could make arguements either way. I'm not saying it's a bad idea, though.
What I think WILL help is to fine in a BIG HONKN' way any company (little, big, corporate, who ever) that is caught with illegals on the payroll. We need to ship illegals back to their nation of origin when found (immediatly, no court dates 3 months in the future or any other of the crap INS does right now), and if caught a second time, they do jail time and then we send them back. We need to deny illegals social services (with the exception of emergency medical care, of course).
We need, in short, to get tough on this problem. If those in other countries see that it is not worth it to come here (no jobs to be had and a good chance of getting sent back anyway) they won't try to begin with.
I have a huge sympathy for the poor. I don't blame most illegals for wanting to be here, I really don't. But we can't continue to support them. They need to stay and try to improve their own nation's situation and/or apply for legal immagration to the US.