Labs are very hyper dogs. My brother has a lab-dalmation mix who's 7 years old and just settled down a couple years ago. They seem to stay a puppy until then. Knowing labs are hyper and knowing that I never wanted one (I really don't like to have hyper dogs myself--they're cute, but it's better when someone else owns them), my heart went out to a stray 1- or 2-year-old chocolate lab whose owner took her collar and tags off before putting her out (evidently, he didn't want her, either--but it's his fault for not taking the time to train her). I kept her for about 2 months. Not because I couldn't take her hyperactivity. Sure, she drove me nuts. Especially since I had a cat she was afraid of. I had just moved into my house and polyurethaned my floors when I got her. She scratched my floors up something bad. But I could deal with that frustration. What sent me over the edge was the fact that my sister and brother-in-law, who live 3 houses down, had said they would feed her and let her out at night, since I worked until 11. I came home on quite a few occasions to find I had to clean vomit, diarrhea, and urine from her kennel. They didn't come and let her out, feed her, and water her like they said. I felt horrible for her! So, she moved in with my mom who was able to find her a home on a farm.
You've had your dog for quite a long time now, so it would be hard to give her up. I should know since I just had to give up a cat who just would not get rid of her worms. That was extremely h*** o* my daughter and me. So my suggestion is to not give her away just yet. You can buy a deshedding tool. I know my vet carries a specific type that they strongly recommend. However, I couldn't spend money on it since it was more than I could budget for. I went to the pet store and bought something similar for a bit cheaper for my 2 medium-haired kittens (yes, I vacuum a lot, too, since I haven't taken them out to deshed in a while). You can get a large one for the dog. Take her out every few days and run the deshedder through her fur. You'd be amazed at how much comes out and how much less you'll be vacuuming. Bathe her regularly, too.
Second, ask PetSmart or another pet store if they have any obedience classes on weekends. Sign the dog up and tell your husband he has to take her. This is his chance to take responsibility for the dog. The classes aren't that long and have varying degrees (beginner, pro, etc). My sister and brother-in-law did this at PetSmart with their maltese, who is very obedient now! You can line several dog treats up, tell her to wait, and she'll wait to eat each one until you tell her it's OK to eat them. If your husband refuses to take a couple hours to take her to class and then spend about half an hour a day reinforcing each lesson, then let him know that you're going to consider finding her another home.
She will probably jump on visitors until she's far enough in the classes to learn not to. One way you can start teaching her is by having guests turn their backs to her right away and giving a loud, sharp, "Uh-uh!" when she jumps on their backs. This will help her learn that she can't do that. Or, to avoid that all together, just put her in the kennel, garage, or outside if you're expecting company. You can also put her outside or in the garage when your kids are sleeping so she doesn't stick her nose in their faces or wake them by barking. Good luck!