The label toggle that appears in the ribbon or when you right click on a layer in the contents pane has a check box as part of the icon. This is confusing because a check box elsewhere has a very different experience. If labels are toggled "on" the only indication is a blue fill that appears around the tag/checkbox icon. The tooltip that appears when you hover over does not describe that labels are toggled on or off. The wording below could say on or off as well. I am suggesting that the label icon should be revised to appear more visually distinct according to its state, exclude the "check" or have it function more like a regular toggle, update the tooltip & label to better indicate its state.
Thanks for looking.