Adding TapGestureRecognizer to UILabel in Swift

Pretty straight forward

let tap:UITapGestureRecognizer = UITapGestureRecognizer(target: self, action: "labelAction:")
mylabel.addGestureRecognizer(tap)
tap.delegate = self // Remember to extend your class with UIGestureRecognizerDelegate

 // Receive action
func labelAction(gr:UITapGestureRecognizer)
{
    let searchlbl:UILabel = (gr.view as! UILabel) // Type cast it with the class for which you have added gesture
    print(searchlbl.text)    
}

Based on answer from Taimur Ajmal, Updated for Swift 2.X:

override func viewDidLoad() {
    super.viewDidLoad()

    ...

    labelDemo.userInteractionEnabled = true // Remember to do this
    let tap: UITapGestureRecognizer = UITapGestureRecognizer(
        target: self, action: #selector(didTapLabelDemo))
    labelDemo.addGestureRecognizer(tap)
    tap.delegate = self // Remember to extend your class with UIGestureRecognizerDelegate

    ...
}

func didTapLabelDemo(sender: UITapGestureRecognizer)
{
    print("you tapped label \(sender)")
}