Before adding labels to icons I always consider:
- does adding the label strengthen or weaken this design overall?
- will this project ever be multilingual, and if so how do we localize this piece of text?
- if we don't localize this text and users of other languages automatically translate this label, will it still make sense, or be potentially more misleading than an icon alone (translated automatically to say the wrong thing)?
Because of this, I would probably leave the text off unless it was more important than the icon!