Making Sense of the Word Count Status Line

I’m looking at the word count status line and I see:

  • 34 words 34 in items 0 in notes 1 item

I think this is telling me I have 34 words visible and 0 words visible in notes.

What are the two item/items fields telling me, and why are they different? If “in items” is telling me there are 34 words visible in the items, how is that different from the “34 words”?