Make box scale around text in symbol

[JonahCrooks]

Hello! I'm trying to create a symbol for a point feature layer. The symbol has two layers, a rectangle and a text string. I'd like to make it so the rectangle will stretch to encompass the entire text string, instead of the text string overlapping the side of the rectangle. Is this possible?

Thanks!

[BlakeTerhune]

Is the text driven by a field in the data? Use labels instead of symbols. Apply a background in the label style and set the placement to center center.