To make it clear with a full example:
% Example input
X = rand(10,1);
Y = rand(10,1);
% example labels
textCell = arrayfun(@(x,y) sprintf('(%3.2f, %3.2f)',x,y),X,Y,'un',0);
% Plot scatter
scatter(X,Y,'filled')
% Add textCell
for ii = 1:numel(X)
text(X(ii)+.02, Y(ii)+.02,textCell{ii},'FontSize',8)
end

Oleg