Ok, so I put some systems thinking into this feature request and how it could work.
The X axis would inherit the unit entered into simulation menu "Time Unit"
So the label would say "Unit: Year"
The Y axis would inherit the unit of the variable wired variable
So the label would say "Unit: $/Year"
If the variable is dimensionless and fed into a percent operator then
The label would say "Percent"
If the variable is dimensionless, like a ratio or something then
The label would say "DMLS"
If making a phase plot or limit cycle plot a variable attached to the x axis would trigger Minsky to
The labels would say for the x and y axis "Variable: Employment Ratio" "Variable: Labor Demand"
If for some reason there are multiple units per axis (which there should from a best practice perspective) then a comma would separate them.
The user could still override the labels after the face by entering the labels manually in the options menu. An example would be ratio that was automatically labeled as "DMLS" could be manually changed to Ratio.
This feature request is implemented to varying degrees in the other software packages.