Is there a way I can create bulk labels?
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Labels only exist as a function of being applied to issues. There is no global, or even local, list of labels. To create a label, you have to add it to an issue.
The simple answer to your question is "no, you can't because labels don't exist outside issues", but the more useful answer is "yes, by applying a new label to lots of issues with the bulk-edit function"
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