Create a new layer for every word in an existing text layer

Hi, I have a text layer consisting of one or more words. What I would like to do is this:

Regardless of the number of words (1, 2, 3, etc) in this existing layer, create new layers equal to the number of words, with one word on each.

Example: I have a text layer that reads "test here". I want to create two new layers, one that contains "test", the other that contains "here".

I can't seem to figure this one out. Any help much appreciated, thanks!