You are able to print labels for Admissions students, but they will need to have an Admissions Status of Enrolled. In Admin > Students > Admissions you will find your admissions students. Click on Bulk Update Admissions which will take you to a Group Updater for these admissions students:
Select Admissions-Status from the Student Attribute dropdown, then Choose. Then click Check All to select the students prior to choosing Enrolled from the dropdown box. To action this click Update Students.
As long as the students have a future entry date they will not affect current registers. Next go to Admin > Students > Student Labels.
Create a new label template or use an existing one, click on Print and ensure Students to Include has Future students ticked.
You can now print the labels for these Admissions Students.