Kevin,
This is not possible via delivered functionality. Since you are on server you can check out Stephen Deutch's Label Management Tool user macro.
You can also take a look at the free app Power Scripts for Confluence to help automate Confluence administration, one of the features is bulk label admin. Here's the script:
https://confluence.cprime.io/display/CTR/Replace+a+label+with+a+different+one
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