I keep clicking "Label features in this layer" but can not get labels for specific field to appear in map for point shapefile. It sounds like you may be right clicking in the Table of Contents (TOC) to lable. Go also into Properties from there and select the Labels tab. On that screen there is a little box to check for turning on labels. There, too, you can select from a drop-down menu the field you want displayed as a label.
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