Icon view (left) and List view both support sorting by label.
Easy, just open View > Show View Options. If your frontmost Finder window is in List view, check the Labels box in the Show Columns list to add a Labels column to List-view windows. If your window is in Icon view, check the box labeled Keep Arranged By and choose Label from the pull-down menu. Note that you can’t use this trick in Column view, but you can still resort to the old trick of adding a blank space at the front of any filenames that you want to appear at the top of a column.
Bonus tip: Unchecking the Calculate All Sizes box will make your Finder faster.
