I expanded upon balealexandre's answer and added in the ability to specify HTML to include both before and after your label text.  I added a bunch of method overloads and comments.  I hope this helps folks!
Also snagged information from here:  Html inside label using Html helper
namespace System.Web.Mvc.Html
{
    public static class LabelExtensions
    {
        /// <summary>Creates a Label with custom Html before the label text.  Only starting Html is provided.</summary>
        /// <param name="startHtml">Html to preempt the label text.</param>
        /// <returns>MVC Html for the Label</returns>
        public static MvcHtmlString LabelFor<TModel, TValue>(this HtmlHelper<TModel> html, Expression<Func<TModel, TValue>> expression, Func<object, HelperResult> startHtml)
        {
            return LabelFor(html, expression, startHtml, null, new RouteValueDictionary("new {}"));
        }
        /// <summary>Creates a Label with custom Html before the label text.  Starting Html and a single Html attribute is provided.</summary>
        /// <param name="startHtml">Html to preempt the label text.</param>
        /// <param name="htmlAttributes">A single Html attribute to include.</param>
        /// <returns>MVC Html for the Label</returns>
        public static MvcHtmlString LabelFor<TModel, TValue>(this HtmlHelper<TModel> html, Expression<Func<TModel, TValue>> expression, Func<object, HelperResult> startHtml, object htmlAttributes)
        {
            return LabelFor(html, expression, startHtml, null, new RouteValueDictionary(htmlAttributes));
        }
        /// <summary>Creates a Label with custom Html before the label text.  Starting Html and a collection of Html attributes are provided.</summary>
        /// <param name="startHtml">Html to preempt the label text.</param>
        /// <param name="htmlAttributes">A collection of Html attributes to include.</param>
        /// <returns>MVC Html for the Label</returns>
        public static MvcHtmlString LabelFor<TModel, TProperty>(this HtmlHelper<TModel> html, Expression<Func<TModel, TProperty>> expression, Func<object, HelperResult> startHtml, IDictionary<string, object> htmlAttributes)
        {
            return LabelFor(html, expression, startHtml, null, htmlAttributes);
        }
        /// <summary>Creates a Label with custom Html before and after the label text.  Starting Html and ending Html are provided.</summary>
        /// <param name="startHtml">Html to preempt the label text.</param>
        /// <param name="endHtml">Html to follow the label text.</param>
        /// <returns>MVC Html for the Label</returns>
        public static MvcHtmlString LabelFor<TModel, TValue>(this HtmlHelper<TModel> html, Expression<Func<TModel, TValue>> expression, Func<object, HelperResult> startHtml, Func<object, HelperResult> endHtml)
        {
            return LabelFor(html, expression, startHtml, endHtml, new RouteValueDictionary("new {}"));
        }
        /// <summary>Creates a Label with custom Html before and after the label text.  Starting Html, ending Html, and a single Html attribute are provided.</summary>
        /// <param name="startHtml">Html to preempt the label text.</param>
        /// <param name="endHtml">Html to follow the label text.</param>
        /// <param name="htmlAttributes">A single Html attribute to include.</param>
        /// <returns>MVC Html for the Label</returns>
        public static MvcHtmlString LabelFor<TModel, TValue>(this HtmlHelper<TModel> html, Expression<Func<TModel, TValue>> expression, Func<object, HelperResult> startHtml, Func<object, HelperResult> endHtml, object htmlAttributes)
        {
            return LabelFor(html, expression, startHtml, endHtml, new RouteValueDictionary(htmlAttributes));
        }
        /// <summary>Creates a Label with custom Html before and after the label text.  Starting Html, ending Html, and a collection of Html attributes are provided.</summary>
        /// <param name="startHtml">Html to preempt the label text.</param>
        /// <param name="endHtml">Html to follow the label text.</param>
        /// <param name="htmlAttributes">A collection of Html attributes to include.</param>
        /// <returns>MVC Html for the Label</returns>
        public static MvcHtmlString LabelFor<TModel, TProperty>(this HtmlHelper<TModel> html, Expression<Func<TModel, TProperty>> expression, Func<object, HelperResult> startHtml, Func<object, HelperResult> endHtml, IDictionary<string, object> htmlAttributes)
        {
            ModelMetadata metadata = ModelMetadata.FromLambdaExpression(expression, html.ViewData);
            string htmlFieldName = ExpressionHelper.GetExpressionText(expression);
            //Use the DisplayName or PropertyName for the metadata if available.  Otherwise default to the htmlFieldName provided by the user.
            string labelText = metadata.DisplayName ?? metadata.PropertyName ?? htmlFieldName.Split('.').Last();
            if (String.IsNullOrEmpty(labelText))
            {
                return MvcHtmlString.Empty;
            }
            //Create the new label.
            TagBuilder tag = new TagBuilder("label");
            //Add the specified Html attributes
            tag.MergeAttributes(htmlAttributes);
            //Specify what property the label is tied to.
            tag.Attributes.Add("for", html.ViewContext.ViewData.TemplateInfo.GetFullHtmlFieldId(htmlFieldName));
            //Run through the various iterations of null starting or ending Html text.
            if (startHtml == null && endHtml == null) tag.InnerHtml = labelText;
            else if (startHtml != null && endHtml == null) tag.InnerHtml = string.Format("{0}{1}", startHtml(null).ToHtmlString(), labelText);
            else if (startHtml == null && endHtml != null) tag.InnerHtml = string.Format("{0}{1}", labelText, endHtml(null).ToHtmlString());
            else tag.InnerHtml = string.Format("{0}{1}{2}", startHtml(null).ToHtmlString(), labelText, endHtml(null).ToHtmlString());
            return MvcHtmlString.Create(tag.ToString());
        }
    }
}