Nofollow your labels for better pagerank.

Labels are used for a simple menu and to describe what our post is about in google. They don't get indexed and they don't get pagerank.
Nofollow your labels for better pagerank

Nofollow means that we don't allow google bot to follow specific links and see what is within them. In case we allow google to follow internal or external links we give power to those links.
    There is no reason to allow this because google can find our posts in main page of our blog. So the conclusion is that labels don't help our blog to something else except the two reasons above.

If you want to nofollow labels keep reading

also check: Optimize blogger titles

How to nofollow labels in blogger

to make them nofollow you must go to your template - edit html

Nofollow your labels for better pagerank

Nofollow your labels for better pagerank

and find this code.
<a expr:href='data:label.url' rel='tag'>
change above code with this one.
<a expr:href='data:label.url' rel='tag nofollow'>
That's it you did it. Now wait for better page rank in the next update.
I think it's a very simple process and you will manage to change labels. In case you have a problem feel free to comment.