Use the Positioning tool to resize labels. Labels normally autosize, meaning the text rectangle automatically resizes to accommodate the text you enter. Label text remains on one line unless you enter a carriage return or resize the label box.
Right-click the label and select Size to Text from the shortcut menu to toggle autosizing.
When you resize a label, LabVIEW automatically turns autosizing off.
You can resize a string constant the same way you resize a label.
You also can use the Size to Text? property to set programmatically whether the size of the text object changes according to the text included.