The Lab is high on the dog bite list because of the shear numbers, over 1 million in the US which inflates them to the top. Labs are not aggressive by nature, so to get one to be aggressive means you really have to abuse the dog. Which in my neighborhood, seems to happen a lot.
Our labs are good watchdogs, but are not aggressive at all, in fact, they sound the alarm then hide behind you while you investigate.
And they ARE LAP DOGS. There is a reason they get the nickname Lapradors. One of ours thinks she's the same size as the cat, so when the cat curls up in my lap, she thinks she has to too, all 65# of her. Then of coarse our male gets jelouse and has to join her, and the cat, on my lap, while sitting in my recliner. Ah, never a dull moment.
Of, BTW, they are constant chewers, so make sure you have a lot of things for him to chew on such as old shoes, otherwise, he's going to improvise. They are also very playful, so don't be surprised to see your underwear running around the yard because he wants to play a game of tag.
Most breeds outgrow puppyhood by 18 months, Labs remain puppies for up to three years.
They also like to dig, and according to some trainers, it is best to train the dog to use a designated digging area, otherwise he'll again improvise by taking over the flower beds.
They are also runners, and love to get loose and run. They will jump, climb, and chew through fneces, even chain link. The best containment system has been the radio fence and collar. Labs are big chickens when it comes to getting shocked. If you want to run him without a lease, then train him with a range collar when young. They are both worth the investment.
Scott