I'm building a screen to scan barcodes, and I need to put a translucent screen behind some UILabels to improve visibility against light backgrounds.
Here's what the screen looks like now:

I'm setting the background color on the UILabel to get the translucent boxes. I've also created a custom UILabel subclass to allow me to set some padding between the edge of the UILabel and the text using this approach.
As you can see in the screen above, the UILabel doesn't resize correctly to take the padding into account. The "padding" just shifts the text over without changing the width of the label, causing the text to truncate.
Both of these labels will contain text of arbitrary lengths, and I really need the UILabel to dynamically resize.
What UILabel method can I override to increase the width of the label and factor in the padding?