No we are not, technically EU members are in both but being EEA only is a lot different. That has a lot of laws that we would benefit from that we can't whilst in the EU. EEA countries can restrict EU immigration, pay less into the EU, are still able to freely move across Europe, can set up their own free trade agreements and have a free trade agreement with the EU.
The EEA is based upon the four freedoms, including the free movement of goods and labour.