If you use custom labels, you can now manage custom label fields along side Jira labels.
Select a Custom Field
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Go to Top Nav → Manage Labels → Custom Labels
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Select a Custom Label Field
Manage Custom Labels
Once a label field is selected, you can manage labels with similar interface to default label management.
Key features:
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Create labels and quickly add to multiple issues
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View issue counts, projects and more
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Search labels, filter by projects or use JQL for advanced search and filtering
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Use rename, bulk delete and merge to save time
You can also seamlessly switch to another custom field as needed.