A UILabel subclass that adds padding around the text and handles layout properly.

NRLabel.swift

import UIKit

class NRLabel : UILabel {

    var textInsets: UIEdgeInsets = UIEdgeInsetsZero {
        didSet { invalidateIntrinsicContentSize() }
    }

    override func textRectForBounds(bounds: CGRect, limitedToNumberOfLines numberOfLines: Int) -> CGRect {
        var rect = textInsets.apply(bounds)
        rect = super.textRectForBounds(rect, limitedToNumberOfLines: numberOfLines)
        return textInsets.inverse.apply(rect)
    }

    override func drawTextInRect(rect: CGRect) {
        super.drawTextInRect(textInsets.apply(rect))
    }

}

extension UIEdgeInsets {
    var inverse: UIEdgeInsets {
        return UIEdgeInsets(top: -top, left: -left, bottom: -bottom, right: -right)
    }
    func apply(rect: CGRect) -> CGRect {
        return UIEdgeInsetsInsetRect(rect, self)
    }
}