You can also use the collcell package to define a custom column environment.
I have defined the L environment below to automatically add the label if there is no text provided. If there is data already in that column then that text is used as the label. The red coloring here is added just to show where the automatic labels are added.

The default below is to require a call to \RestartLabelCounter to restart the label when desired. However with a call to
\toggletrue{AutoResetCounter}
\setcounter{LabelCounter}{0}
the code will auto reset every 4 entries:

Notes:
In the current implementation you need to call
\setcounter{LabelCounter}{0}
before every table, unless you desire the labels to continue from one table to the next This can also be automated if desired.
Code:
\documentclass{article}
\usepackage{xcolor}
\usepackage{collcell}
\usepackage{ifmtarg}
\usepackage{etoolbox}
% http://tex.stackexchange.com/questions/125714/use-of-ifmtarg-yields-spurious-space
\makeatletter
\newcommand{\IfIsEmptyArg}[3]{%
\expandafter@ifmtarg\expandafter{#1}{#2}{#3}
}
\makeatother
\newtoggle{AutoResetCounter}%
\togglefalse{AutoResetCounter}%
\newcounter{LabelCounter}%
\setcounter{LabelCounter}{0}%
\newcommand{\StepCounter}[1]{%
\iftoggle{AutoResetCounter}{%
\ifnum\value{#1}=4\relax%
\setcounter{#1}{1}%
\else
\stepcounter{#1}%
\fi
}{%
\stepcounter{#1}%
}%
}%
\newcommand{\RestartLabelCounter}{\setcounter{LabelCounter}{0}}%
\newcommand*{\ApplyLabel}[1]{%
\IfIsEmptyArg{#1}{%
\textcolor{red}{Label \theLabelCounter}%
\StepCounter{LabelCounter}%
}{%
#1%
}%
}%
\newcolumntype{L}{>{\collectcell\ApplyLabel}l<{\endcollectcell}}
\begin{document}
\begin{tabular}{Ll}\hline
& Bunch of text\
& More text\
& Even more things to write\
& Lots of stuff\
\hline
Label X & Second set of entries\
Label Y & Can be written here\
& All sorts of stuf\
& Last of the second entries \RestartLabelCounter\
\hline
& Third set of entries\
& With its own unique text\
& But the same set of labels\
& Off to the left\\hline
\end{tabular}
\bigskip
\toggletrue{AutoResetCounter}
\setcounter{LabelCounter}{0}
With auto reset enabled:\medskip
\begin{tabular}{Ll}\hline
& Bunch of text\
& More text\
& Even more things to write\
& Lots of stuff\
\hline
& Another set of entries\
& With its own unique text\
& But the same set of labels\
& Off to the left\\hline
\end{tabular}
\end{document}