Here is how to do it.
Click '
Layout' tab and click the '
Edit HTML' Subtab. Now click '
Expand Widget Templates' to expand the CSS code.
Find the following code in your template.
Code:
<b:if cond='data:post.labels'>
<data:postLabelsLabel/>
<b:loop values='data:post.labels' var='label'>
<a expr:href='data:label.url' rel='tag'><data:label.name/></a><b:if cond='data:label.isLast != "true"'>,</b:if>
</b:loop>
</b:if>
First take a backup of your template and after that delete this portion from your template. Now no labels will come beneath your posts. I hope this will help you.