
My own Lab was much the same in her behaviour till about a year old. She was off-leash as well and I am happy to see JeanGenie's support in this area. Perhaps JeanGenie could also comment on my solution to the problem? As it might help you too, but I am not a trainer.
I found that Jet only did this with people I did not know. Neighbours that I greeted with a big, "HELLO, great day, isn't it?" did not illicit the same behaviour from Jet. So I took to saying that to everyone, whether I knew them or not.
And I asked Jet to come to me and to heel. I did not put her on leash but sometimes I did just touch her collar. It seemed to me that she needed this display from me that showed I was the boss, not her. Until I did this and the above it seemed she thought it was her job to accost strangers.
Like you I was quite concerned that my Lab, a breed that supposedly loves everyone, apparently did not. I consulted with her breeder too, who said I must control the situations in which she met strangers till she felt more sure of herself. Jet is a very submissive girl, highly obedient, excellent recall as I believe is typical of a submissive dog. I must say, it wasn't till she was 6 years old that she willingly approached a stranger and allowed them to have a little pet. But at least she stopped bounding up and scaring people sooner than that.