diff --git a/hspec-core/src/Test/Hspec/Compat.hs b/hspec-core/src/Test/Hspec/Compat.hs
--- a/hspec-core/src/Test/Hspec/Compat.hs
+++ b/hspec-core/src/Test/Hspec/Compat.hs
@@ -1,6 +1,7 @@
 {-# LANGUAGE CPP #-}
 module Test.Hspec.Compat (
-  showType
+  getDefaultConcurrentJobs
+, showType
 , showFullType
 , readMaybe
 , lookupEnv
@@ -56,10 +57,18 @@
 
 #if MIN_VERSION_base(4,4,0)
 import           Data.Typeable.Internal (tyConModule, tyConName)
+import           Control.Concurrent
 #endif
 
 #if !MIN_VERSION_base(4,6,0)
 import qualified Text.ParserCombinators.ReadP as P
+#endif
+
+getDefaultConcurrentJobs :: IO Int
+#if MIN_VERSION_base(4,4,0)
+getDefaultConcurrentJobs = getNumCapabilities
+#else
+getDefaultConcurrentJobs = return 1
 #endif
 
 #if !MIN_VERSION_base(4,6,0)
diff --git a/hspec-core/src/Test/Hspec/Core/Example.hs b/hspec-core/src/Test/Hspec/Core/Example.hs
--- a/hspec-core/src/Test/Hspec/Core/Example.hs
+++ b/hspec-core/src/Test/Hspec/Core/Example.hs
@@ -7,11 +7,13 @@
 , Progress
 , ProgressCallback
 , Result (..)
+, Location (..)
+, LocationAccuracy (..)
 ) where
 
 import           Data.Maybe (fromMaybe)
 import           Data.List (isPrefixOf)
-import           Test.HUnit.Lang (HUnitFailure(..))
+import qualified Test.HUnit.Lang as HUnit
 import qualified Control.Exception as E
 import           Data.Typeable (Typeable)
 import qualified Test.QuickCheck as QC
@@ -50,23 +52,52 @@
 type ActionWith a = a -> IO ()
 
 -- | The result of running an example
-data Result = Success | Pending (Maybe String) | Fail String
+data Result = Success | Pending (Maybe String) | Fail (Maybe Location) String
   deriving (Eq, Show, Read, Typeable)
 
 instance E.Exception Result
 
+-- | @Location@ is used to represent source locations.
+data Location = Location {
+  locationFile :: FilePath
+, locationLine :: Int
+, locationColumn :: Int
+, locationAccuracy :: LocationAccuracy
+} deriving (Eq, Show, Read)
+
+-- | A marker for source locations
+data LocationAccuracy =
+  -- | The source location is accurate
+  ExactLocation |
+  -- | The source location was determined on a best-effort basis and my be
+  -- wrong or inaccurate
+  BestEffort
+  deriving (Eq, Show, Read)
+
 instance Example Bool where
   type Arg Bool = ()
-  evaluateExample b _ _ _ = if b then return Success else return (Fail "")
+  evaluateExample b _ _ _ = if b then return Success else return (Fail Nothing "")
 
 instance Example Expectation where
   type Arg Expectation = ()
   evaluateExample e = evaluateExample (\() -> e)
 
+hunitFailureToResult :: HUnit.HUnitFailure -> Result
+hunitFailureToResult e = case e of
+#if MIN_VERSION_HUnit(1,3,0)
+  HUnit.HUnitFailure loc err -> Fail location err
+    where
+      location = case loc of
+        Nothing -> Nothing
+        Just (HUnit.Location f l c) -> Just $ Location f l c ExactLocation
+#else
+  HUnit.HUnitFailure err -> Fail Nothing err
+#endif
+
 instance Example (a -> Expectation) where
   type Arg (a -> Expectation) = a
   evaluateExample e _ action _ = (action e >> return Success) `E.catches` [
-      E.Handler (\(HUnitFailure err) -> return (Fail err))
+      E.Handler (return . hunitFailureToResult)
     , E.Handler (return :: Result -> IO Result)
     ]
 
@@ -85,11 +116,11 @@
     return $
       case r of
         QC.Success {}               -> Success
-        QC.Failure {QC.output = m}  -> fromMaybe (Fail $ sanitizeFailureMessage r) (parsePending m)
-        QC.GaveUp {QC.numTests = n} -> Fail ("Gave up after " ++ pluralize n "test" )
-        QC.NoExpectedFailure {}     -> Fail ("No expected failure")
+        QC.Failure {QC.output = m}  -> fromMaybe (Fail Nothing $ sanitizeFailureMessage r) (parsePending m)
+        QC.GaveUp {QC.numTests = n} -> Fail Nothing ("Gave up after " ++ pluralize n "test" )
+        QC.NoExpectedFailure {}     -> Fail Nothing ("No expected failure")
 #if MIN_VERSION_QuickCheck(2,8,0)
-        QC.InsufficientCoverage {}  -> Fail ("Insufficient coverage")
+        QC.InsufficientCoverage {}  -> Fail Nothing ("Insufficient coverage")
 #endif
     where
       qcProgressCallback = QCP.PostTest QCP.NotCounterexample $
diff --git a/hspec-core/src/Test/Hspec/Core/Hooks.hs b/hspec-core/src/Test/Hspec/Core/Hooks.hs
--- a/hspec-core/src/Test/Hspec/Core/Hooks.hs
+++ b/hspec-core/src/Test/Hspec/Core/Hooks.hs
@@ -35,15 +35,13 @@
 beforeAll :: IO a -> SpecWith a -> Spec
 beforeAll action spec = do
   mvar <- runIO (newMVar Nothing)
-  let action_ = memoize mvar action
-  before action_ spec
+  before (memoize mvar action) spec
 
 -- | Run a custom action before the first spec item.
 beforeAll_ :: IO () -> SpecWith a -> SpecWith a
 beforeAll_ action spec = do
   mvar <- runIO (newMVar Nothing)
-  let action_ = memoize mvar action
-  before_ action_ spec
+  before_ (memoize mvar action) spec
 
 memoize :: MVar (Maybe a) -> IO a -> IO a
 memoize mvar action = modifyMVar mvar $ \ma -> case ma of
diff --git a/hspec-core/src/Test/Hspec/Core/Runner.hs b/hspec-core/src/Test/Hspec/Core/Runner.hs
--- a/hspec-core/src/Test/Hspec/Core/Runner.hs
+++ b/hspec-core/src/Test/Hspec/Core/Runner.hs
@@ -1,3 +1,10 @@
+{-# LANGUAGE CPP #-}
+
+#if MIN_VERSION_base(4,6,0)
+-- Control.Concurrent.QSem is deprecated in base-4.6.0.*
+{-# OPTIONS_GHC -fno-warn-deprecations #-}
+#endif
+
 -- |
 -- Stability: provisional
 module Test.Hspec.Core.Runner (
@@ -25,6 +32,7 @@
 import           System.Environment (getProgName, getArgs, withArgs)
 import           System.Exit
 import qualified Control.Exception as E
+import           Control.Concurrent
 
 import           System.Console.ANSI (hHideCursor, hShowCursor)
 import qualified Test.QuickCheck as QC
@@ -122,13 +130,17 @@
         seed = (fromJust . configQuickCheckSeed) c
         qcArgs = configQuickCheckArgs c
 
+    jobsSem <- newQSem =<< case configConcurrentJobs c of
+      Nothing -> getDefaultConcurrentJobs
+      Just maxJobs -> return maxJobs
+
     useColor <- doesUseColor h c
 
     filteredSpec <- filterSpecs c . applyDryRun c <$> runSpecM spec
 
     withHiddenCursor useColor h $
       runFormatM useColor (configHtmlOutput c) (configPrintCpuTime c) seed h $ do
-        runFormatter useColor h c formatter filteredSpec `finally_` do
+        runFormatter jobsSem useColor h c formatter filteredSpec `finally_` do
           failedFormatter formatter
 
         footerFormatter formatter
diff --git a/hspec-core/src/Test/Hspec/Core/Runner/Eval.hs b/hspec-core/src/Test/Hspec/Core/Runner/Eval.hs
--- a/hspec-core/src/Test/Hspec/Core/Runner/Eval.hs
+++ b/hspec-core/src/Test/Hspec/Core/Runner/Eval.hs
@@ -1,3 +1,10 @@
+{-# LANGUAGE CPP #-}
+
+#if MIN_VERSION_base(4,6,0)
+-- Control.Concurrent.QSem is deprecated in base-4.6.0.*
+{-# OPTIONS_GHC -fno-warn-deprecations #-}
+#endif
+
 module Test.Hspec.Core.Runner.Eval (runFormatter) where
 
 import           Prelude ()
@@ -22,8 +29,8 @@
 type EvalTree = Tree (ActionWith ()) (String, Maybe Location, ProgressCallback -> FormatResult -> IO (FormatM ()))
 
 -- | Evaluate all examples of a given spec and produce a report.
-runFormatter :: Bool -> Handle -> Config -> Formatter -> [SpecTree ()] -> FormatM ()
-runFormatter useColor h c formatter specs = do
+runFormatter :: QSem -> Bool -> Handle -> Config -> Formatter -> [SpecTree ()] -> FormatM ()
+runFormatter jobsSem useColor h c formatter specs = do
   headerFormatter formatter
   chan <- liftIO newChan
   reportProgress <- liftIO mkReportProgress
@@ -38,7 +45,7 @@
     toEvalTree = map (fmap f)
       where
         f :: Item () -> (String, Maybe Location, ProgressCallback -> FormatResult -> IO (FormatM ()))
-        f (Item requirement loc isParallelizable e) = (requirement, loc, parallelize isParallelizable $ e params ($ ()))
+        f (Item requirement loc isParallelizable e) = (requirement, loc, parallelize jobsSem isParallelizable $ e params ($ ()))
 
     params :: Params
     params = Params (configQuickCheckArgs c) (configSmallCheckDepth c)
@@ -53,9 +60,9 @@
 
 type FormatResult = Either E.SomeException Result -> FormatM ()
 
-parallelize :: Bool -> (ProgressCallback -> IO Result) -> ProgressCallback -> FormatResult -> IO (FormatM ())
-parallelize isParallelizable e
-  | isParallelizable = runParallel e
+parallelize :: QSem -> Bool -> (ProgressCallback -> IO Result) -> ProgressCallback -> FormatResult -> IO (FormatM ())
+parallelize jobsSem isParallelizable e
+  | isParallelizable = runParallel jobsSem e
   | otherwise = runSequentially e
 
 runSequentially :: (ProgressCallback -> IO Result) -> ProgressCallback -> FormatResult -> IO (FormatM ())
@@ -65,10 +72,10 @@
 
 data Report = ReportProgress Progress | ReportResult (Either E.SomeException Result)
 
-runParallel :: (ProgressCallback -> IO Result) -> ProgressCallback -> FormatResult -> IO (FormatM ())
-runParallel e reportProgress formatResult = do
+runParallel :: QSem -> (ProgressCallback -> IO Result) -> ProgressCallback -> FormatResult -> IO (FormatM ())
+runParallel jobsSem e reportProgress formatResult = do
   mvar <- newEmptyMVar
-  _ <- forkIO $ do
+  _ <- forkIO $ E.bracket_ (waitQSem jobsSem) (signalQSem jobsSem) $ do
     let progressCallback = replaceMVar mvar . ReportProgress
     result <- evalExample (e progressCallback)
     replaceMVar mvar (ReportResult result)
@@ -91,9 +98,9 @@
   where
     forceResult :: Result -> Result
     forceResult r = case r of
-      Success   -> r
+      Success -> r
       Pending m -> m `deepseq` r
-      Fail    m -> m `deepseq` r
+      Fail _ m -> m `deepseq` r
 
 data Message = Done | Run (FormatM ())
 
@@ -140,7 +147,7 @@
             Right (Pending reason) -> do
               increasePendingCount
               examplePending formatter path reason
-            Right (Fail err) -> failed loc path (Right err)
+            Right (Fail loc_ err) -> failed (loc_ <|> loc) path (Right err)
             Left err         -> failed loc path (Left  err)
 
     failed loc path err = do
diff --git a/hspec-core/src/Test/Hspec/Core/Spec.hs b/hspec-core/src/Test/Hspec/Core/Spec.hs
--- a/hspec-core/src/Test/Hspec/Core/Spec.hs
+++ b/hspec-core/src/Test/Hspec/Core/Spec.hs
@@ -1,3 +1,8 @@
+{-# LANGUAGE CPP #-}
+#if MIN_VERSION_base(4,8,1)
+#define HAS_SOURCE_LOCATIONS
+{-# LANGUAGE ImplicitParams #-}
+#endif
 -- |
 -- Stability: unstable
 --
@@ -22,7 +27,12 @@
 , module Test.Hspec.Core.Tree
 ) where
 
+#ifdef HAS_SOURCE_LOCATIONS
+import           GHC.Stack
+#endif
+
 import qualified Control.Exception as E
+
 import           Test.Hspec.Expectations (Expectation)
 
 import           Test.Hspec.Core.Example
@@ -44,7 +54,11 @@
 -- > describe "absolute" $ do
 -- >   it "returns a positive number when given a negative number" $
 -- >     absolute (-1) == 1
+#ifdef HAS_SOURCE_LOCATIONS
+it :: (?loc :: CallStack, Example a) => String -> a -> SpecWith (Arg a)
+#else
 it :: Example a => String -> a -> SpecWith (Arg a)
+#endif
 it label action = fromSpecList [specItem label action]
 
 -- | `parallel` marks all spec items of the given spec to be safe for parallel
diff --git a/hspec-core/src/Test/Hspec/Core/Tree.hs b/hspec-core/src/Test/Hspec/Core/Tree.hs
--- a/hspec-core/src/Test/Hspec/Core/Tree.hs
+++ b/hspec-core/src/Test/Hspec/Core/Tree.hs
@@ -1,16 +1,26 @@
 {-# LANGUAGE DeriveFunctor #-}
+
+{-# LANGUAGE CPP #-}
+#if MIN_VERSION_base(4,8,1)
+#define HAS_SOURCE_LOCATIONS
+{-# LANGUAGE ImplicitParams #-}
+#endif
+
 -- |
 -- Stability: unstable
 module Test.Hspec.Core.Tree (
   SpecTree
 , Tree (..)
 , Item (..)
-, Location (..)
-, LocationAccuracy (..)
 , specGroup
 , specItem
 ) where
 
+#ifdef HAS_SOURCE_LOCATIONS
+import           GHC.SrcLoc
+import           GHC.Stack
+#endif
+
 import           Prelude ()
 import           Test.Hspec.Compat
 
@@ -67,23 +77,6 @@
 , itemExample :: Params -> (ActionWith a -> IO ()) -> ProgressCallback -> IO Result
 }
 
--- | @Location@ is used to represent source locations.
-data Location = Location {
-  locationFile :: String
-, locationLine :: Int
-, locationColumn :: Int
-, locationAccuracy :: LocationAccuracy
-} deriving (Eq, Show)
-
--- | A marker for source locations
-data LocationAccuracy =
-  -- | The source location is accurate
-  ExactLocation |
-  -- | The source location was determined on a best-effort basis and my be
-  -- wrong or inaccurate
-  BestEffort
-  deriving (Eq, Show)
-
 -- | The @specGroup@ function combines a list of specs into a larger spec.
 specGroup :: String -> [SpecTree a] -> SpecTree a
 specGroup s = Node msg
@@ -93,9 +86,22 @@
       | otherwise = s
 
 -- | The @specItem@ function creates a spec item.
+#ifdef HAS_SOURCE_LOCATIONS
+specItem :: (?loc :: CallStack, Example a) => String -> a -> SpecTree (Arg a)
+#else
 specItem :: Example a => String -> a -> SpecTree (Arg a)
-specItem s e = Leaf $ Item requirement Nothing False (evaluateExample e)
+#endif
+specItem s e = Leaf $ Item requirement location False (evaluateExample e)
   where
     requirement
       | null s = "(unspecified behavior)"
       | otherwise = s
+
+    location :: Maybe Location
+#ifdef HAS_SOURCE_LOCATIONS
+    location = case reverse (getCallStack ?loc) of
+      (_, loc) : _ -> Just (Location (srcLocFile loc) (srcLocStartLine loc) (srcLocStartCol loc) ExactLocation)
+      _ -> Nothing
+#else
+    location = Nothing
+#endif
diff --git a/hspec-core/src/Test/Hspec/Options.hs b/hspec-core/src/Test/Hspec/Options.hs
--- a/hspec-core/src/Test/Hspec/Options.hs
+++ b/hspec-core/src/Test/Hspec/Options.hs
@@ -7,6 +7,7 @@
 ) where
 
 import           Prelude ()
+import           Control.Monad
 import           Test.Hspec.Compat
 
 import           System.IO
@@ -37,6 +38,7 @@
 , configFormatter :: Maybe Formatter
 , configHtmlOutput :: Bool
 , configOutputFile :: Either Handle FilePath
+, configConcurrentJobs :: Maybe Int
 }
 
 defaultConfig :: Config
@@ -56,6 +58,7 @@
 , configFormatter = Nothing
 , configHtmlOutput = False
 , configOutputFile = Left stdout
+, configConcurrentJobs = Nothing
 }
 
 filterOr :: Maybe (Path -> Bool) -> Maybe (Path -> Bool) -> Maybe (Path -> Bool)
@@ -137,6 +140,7 @@
   , Option   []  ["dry-run"]          (NoArg setDryRun)                   (h "pretend that everything passed; don't verify anything")
   , Option   []  ["fail-fast"]        (NoArg setFastFail)                 (h "abort on first failure")
   , Option   "r" ["rerun"]            (NoArg  setRerun)                   (h "rerun all examples that failed in the previously test run (only works in GHCi)")
+  , mkOption "j"  "jobs"              (Arg "N" readMaxJobs setMaxJobs)    (h "run at most N parallelizable tests simultaneously (default: number of available processors)")
   ]
   where
     h = unlines . addLineBreaks
@@ -144,11 +148,20 @@
     readFormatter :: String -> Maybe Formatter
     readFormatter = (`lookup` formatters)
 
+    readMaxJobs :: String -> Maybe Int
+    readMaxJobs s = do
+      n <- readMaybe s
+      guard $ n > 0
+      return n
+
     setFormatter :: Formatter -> Config -> Config
     setFormatter f c = c {configFormatter = Just f}
 
     setOutputFile :: String -> Config -> Config
     setOutputFile file c = c {configOutputFile = Right file}
+
+    setMaxJobs :: Int -> Config -> Config
+    setMaxJobs n c = c {configConcurrentJobs = Just n}
 
     setPrintCpuTime x = x >>= \c -> return c {configPrintCpuTime = True}
     setDryRun       x = x >>= \c -> return c {configDryRun = True}
diff --git a/hspec-meta.cabal b/hspec-meta.cabal
--- a/hspec-meta.cabal
+++ b/hspec-meta.cabal
@@ -1,5 +1,5 @@
 name:             hspec-meta
-version:          2.1.7
+version:          2.2.0
 license:          MIT
 license-file:     LICENSE
 copyright:        (c) 2011-2015 Simon Hengel,
diff --git a/src/Test/Hspec/QuickCheck.hs b/src/Test/Hspec/QuickCheck.hs
--- a/src/Test/Hspec/QuickCheck.hs
+++ b/src/Test/Hspec/QuickCheck.hs
@@ -1,3 +1,8 @@
+{-# LANGUAGE CPP #-}
+#if MIN_VERSION_base(4,8,1)
+#define HAS_SOURCE_LOCATIONS
+{-# LANGUAGE ImplicitParams #-}
+#endif
 module Test.Hspec.QuickCheck (
 -- * Params
   modifyMaxSuccess
@@ -8,6 +13,10 @@
 , prop
 ) where
 
+#ifdef HAS_SOURCE_LOCATIONS
+import           GHC.Stack
+#endif
+
 import           Test.Hspec
 import           Test.QuickCheck
 import           Test.Hspec.Core.QuickCheck
@@ -20,5 +29,9 @@
 --
 -- > it ".." $ property $
 -- >   ..
-prop :: Testable prop => String -> prop -> Spec
+#ifdef HAS_SOURCE_LOCATIONS
+prop :: (?loc :: CallStack, Testable prop) => String -> prop -> Spec
+#else
+prop :: (Testable prop) => String -> prop -> Spec
+#endif
 prop s = it s . property