Using ellipsis has a disadvantage, in that the ellipsis itself takes space that could have been used to display more of the actually useful information instead. Especially if you use the ellipsis at either end, you might consider an alternative to the space wasting three dots: fading out the text over the last few characters. The text stays readable, but the fading out gives a cue that there is more text to be had.

For instance:

example of using a fade effect instead of ellipsis http://xion.org.pl/wp-content/uploads/2011/12/gradient-ellipsis.png

(source of the image)

Of course it is always better not to have to do this on labels, so by all means: do try to avoid it, but if you are really stuck between a rock and a hard place, this might be a solution.

Using ellipsis has a disadvantage, in that the ellipsis itself takes space that could have been used to display more of the actually useful information instead. Especially if you use the ellipsis at either end, you might consider an alternative to the space wasting three dots: fading out the text over the last few characters. The text stays readable, but the fading out gives a cue that there is more text to be had.

For instance:

(source of the image)

Of course it is always better not to have to do this on labels, so by all means: do try to avoid it, but if you are really stuck between a rock and a hard place, this might be a solution.