Yes. I have just created a quicky database to do nothing but print label. I needed labels for boxes storing my 2013 payables. I am using 2-up Avery labels. Since I want a label on both sides of the box, I am treating each sheet as one record. For my 2015 payables I need labels for each vendor. I am using an Avery label that is 1"x4".
Create a print layout, selecting label (vertical or such), then select your label in the dropdown. Position merge fields (default) onto the provided label. The layout is ONLY one label. Each record will roll to the next label.
FileMaker Pro has many of the labels built in. Or you can create a custom label if you have all of the specs. I have even created personalized plastic ID cards.
You can also use a dedicated label printer such as the DYMO label printer for such output.