labour party vs Labor

labour party and Labor both are nouns.

Word	Noun	Adjective	Verb	Adverb
labour party	Yes	No	No	No
Labor	Yes	No	No	No

As nouns, Labor is a hyponym of labour party; that is, Labor is a word with a more specific, narrower meaning than labour party:

labour party: a left-of-center political party formed to represent the interest of ordinary working people
Labor: a political party formed in Great Britain in 1900; characterized by the promotion of labor's interests and formerly the socialization of key industries

Other hyponyms of labour party include Australian Labor Party, British Labour Party, Labour, Labour Party.

labour party (noun)	Labor (noun)
a left-of-center political party formed to represent the interest of ordinary working people	the federal department responsible for promoting the working conditions of wage earners in the United States; created in 1913
	a political party formed in Great Britain in 1900; characterized by the promotion of labor's interests and formerly the socialization of key industries