Yes, use Insert > Field to insert a NumWords field where you want the
count to appear. It won't update automatically, though -- you can
select it and press F9 (or right-click it and select Update Field), or
you can switch to Print Preview and back.
You can use Insert | Field to put a NumWords field at the end of the doc.
Be sure you check "update fields" in Tools | Options, Print to keep the word
count updated as you print.