Your Lab puppy's barks might not bother you now, but wait until he is full-grown, and they are loud enough to annoy the neighbors several houses away. Rather than having to deal with angry neighbors, you need to take the time to train your pup when it's okay to bark and in doing so teach him that these are the only times he is allowed to bark. Keep in mind that most dogs do not bark just to hear themselves make noise, they bark to communicate, just like we talk. The trick is to make sure your pup understands when it is okay for him to bark and when it is not. In particular, you want him to bark when there are strangers about.
The basic idea here is to teach your pup that one of the only time it is okay for him to bark is when there is a stranger at your door or outside of your house. There may be other times when you want him to bark on command. This is a very important lesson for your pup to learn as it could save your home from being robbed or someone in your family being injured. The reality is that once you teach your pup to bark on command, he will be able to easily transfer this to barking when there is a stranger about.
For this, your pup should already have mastered the basic commands of 'sit', 'stay', 'come', and 'down'. This way he already understands that he needs to follow the commands you give him and the training he is undergoing. By training the basics first, your pup will know who is in the Alpha position and will be more likely to follow the rest of your training without a problem.
You will also need plenty of time and patience to work with your puppy as he learns what you expect of him and does his best to comply.