How to make a label disappear after some time using javascript

 <script type="text/javascript" src="http://ajax.googleapis.com/ajax/libs/jquery/1.8.3/jquery.min.js"></script>
    <script type="text/javascript">
        $(function () {
            //Hide label after 5 secs
            setTimeout(function () {
                $("[id$=lblError]").fadeOut("slow");
            }, 5000);
        });
    </script>
    <asp:Label ID="lblError" ForeColor = "Red" runat="server" Text="Name is required."></asp:Label>