How to adjust a label size to fit the length of the text

Question

I have searched the solution to this in the past QAs, but could not find the right one.
Does anyone know how to adjust aUILabel size dynamically to fit the

Answer 1

Currently i m working on IOS-8 and there is small changes i made to @Suragch answer (Need to use auto layout to make this work)

Below is the step and screenshot in result :

1. Place the textview inside UIView and not directly inside content-view in storyboard
2. Disable scroll of textview from storyboard
3. Add Leading and top constraints as i have added to view in below screenshot(Trailing constraint is optional but i have added )

There is no need to add code in swift this can be done in storyboard itself.

Result :