To me, it depends what you mean by "label". "Label" as in other people forcing things on to me that I'm not? Sure, that pisses me off most days, as I'm sure it does for most people. But "label" as in self-identity? I will pretty much defend that to the death. Gleefully. 😀 To me, certain aspects of myself (yes- race, sexuality, politics, nationality, generation, etc.) are very important to me. They inform my experiences and how I live in the world, and to me, recognizing that is part of being an individual.
"Labels" (the way I understand it) aren't just labels at all. They come with names, communities, histories and experiences, and there is a wealth of knowledge and power in that that I cannot ignore. Consider this: it means something to call myself an Asian American in a country that sees me as a perpetual foreigner, to apply the term "feminist" or "progressive" to my politics when it is unpopular or ugly to do so, to recognize privilege I hold being an American and belonging to a certain class. Of course I consider myself an individual, but it doesn't change the fact that "labels" still have significance in my life and many others. 🙂